 free. Let's get over to our mam. It's the Basel Chapman as we do each and every Tuesday at 20 past the hour. And don't forget folks, Basel does an outstanding show here every trading day, 10 to 11 Eastern standard time. Also has a great newsletter, the opening call. Now it's very easy to get the opening call, folks. Come over to our website at TFNN. You're going to newsletters, hit newsletters. It's on the left-hand side. Hit the opening call. You can get the opening call for one month for $149. You get for six months for $695, which is a savings of $199 or 22%. You get a full one full year for $1195, which is a savings of $593 or 33%. Now they all come with a 30-day money-back guarantee, folks, okay? So Basel has a great amount of archives over there. He has an inside those archives that was webinarized or an understanding of how he reads the market, how that Chapman wave rides the market each and every day. Basel Chapman, what's going on? It's not going on. It's going down, I guess. That's what we're looking at. If you're looking at the Dow down 290, so I thought I'd go through some of the what I've been talking to you about just, I mean, for weeks. I don't know how long it's been, but I've been mentioning to you that there's a particular technique, a couple of techniques that I like to use. I use them all the time, even in today. But this is something that is really fascinating. And what I'd say to you is if you look at the nine and the 14 period exponential moving averages, and I've got a white background chart, and the gray line is just the closing price of the Dow. So they're just three lines. In fact, let me just take this out. So there really are only three lines there. Okay. So for a very long time, I've used a particular technique where I try to identify what I call it. It's like an earthquake and an aftershock. And on the top, it's I call it the internal high, and then the residual high. It can be a little higher or a little lower than the left. Just like an aftershock can be sometimes less than the earthquake and power and sometimes more. So when I identified this, we were somewhere over here in about the 24th of July. And I said, it's amazing. I'm going to start to get signals in the Dow that says, using other indicators, that we are starting to get overbought. But that nine period moving average refuses to go down, go pink underneath the black moving average. And as long as it's holding well, it means that there's still some strength in the Dow. So as we're looking at it right now, I'll show you this is the Dow, the left side, right side. This is I'm talking about the internal high and the residual high. And using a different Chapman wave technique, we managed to get the August, the first high in the Dow. So we actually are short out. You have core longs from October of 22. I even have, we still have a core long from 2020 in the diamonds. So what I'm looking at here is we are so close to cross, we could do it today. If the market closes, I said down to 98 for closest about another 60 or 80 points down, we're going to be really close to finally turning down. But using this particular technique, and actually, I spoke to Tommy a little earlier, I'm going to be setting up a webinar for subscribers based on these techniques. Nice. Coming up in about a week, maybe Wednesday week, we'll just finalize it today. So look at the S&P that already crossed negative is the daily charge. So you cross negative, look at the QQQ cross negative, look at the IWM very deeply negative for the very serious price decline. So as and look at the SMHs, those are semiconductors, try to add a spectacular rally yesterday, and then it's given back a huge chunk today. And you can see that pink. So now I'll go to the real charts right over here. And I'll show you the same thing. And I'm going to explain why I didn't get really over committed to the downside in the Dow. We are short. But the SMHs, that's a different picture altogether. And you know, you know, I've discussed this, I think for years and years how the semis tend to lead us to the upside and leaders to the downside. Yes, the market generally. And I've always spoken about the chips, the semiconductor chips are really the oil of the 21st century, because you had oil through the 1900s, which was imperative for almost everything economic. And now you've got the semiconductor. So it's really important to monitor. So using the same the same techniques, we actually got short. The semiconductor the 161 17 was the high on the 31st of July. So using this little dirty candle and the measurement of this vertical, I know you use the same vertical analysis for your your volume charts. And I use it using the indicators as well. And you can see that the high that was made on the, I think it's the four, the 18th of all of July, 160.79 had very had much, much stronger technicals than when it went to the fractionally higher high of 161 17 and 31st. The other thing that I talk about I'll be showing in this webinar is how often you can go months. I mean, look at this 159 42 was the high in November of 2021 in the semiconductor event and semiconductor ETF, it plummets down to 83. And then comes all the way back. And where does it stop? Less than two points from the high of November all time high, but less than two points away from the 2021 high. I don't know how that works. It's just amazing. And now it is amazing. Looking at the same thing on the downside with bonds. We're actually looking at that with gold. So I waited a day for the semiconductor to see if made a lower high, which it did. And before the open on the on the 2nd of August, because we had really shorted on the first shorter down, we went short quite aggressively actually short the SMH and the SOXS, which is the three times long short position of the SMH. We took really nice profits on Friday and Monday early yesterday morning. And we've actually just added back to that position this morning. So I'm anticipating that if I want you to show you this because he has the daily child left. He has the weekly I haven't even got a cell signal in the weekly semiconductor or the monthly if you look at Yeah, it's interesting. Basil, it's like we got a real sloppy market, you know, in general, right? And it's as if each sector really has to do some consolidating of the huge gains like the XLK like those tech stocks. But this is interesting because if I have to, I said just subscribe, we're going to monitor now to see whether or not the Dow finally makes that pink nine period moving average to get a sales, it's in a cell signal to get a cell mode. That's just description doesn't sell cell mode is going all the way down to whatever. It just says that's a designation. And but the weekly child the guy's strong it is because strong the monthly chart of the Dow is. So I say to subscribe, we're gonna have to watch this carefully because we might find the Dow finally goes pink. But the others have really had quite a bit of a pullback. So we couldn't be close to some kind of a bounce. And that's what we have to monitor. But in the meantime, Well, you know, you, you might get your number in the Dow today because this S&P is going after its lows kind of early for the day. Oh, I think we're closing pretty much at the low today. Right. But it's going to blow them away right now. That's my point. Yeah, right. And I sure I said just in the den I typed in to say that if oh, yeah, we are, I said the 454.52 the S&P mini goes that could accelerate the move to the downsides of the Dow can actually also go negative. Yeah, this is it. It's looking very ugly on the very short term. But these are all daily charts that I see. They've got the cells is as I say, the week he's haven't done anything. Yes, as I say, we'll be putting up a webinar very soon. Listen, folks, it's very easy to get thousands of newsletters come over to our website at TFNN, go to newsletters, you're gonna see it right on the right hand side, the open and call. Bowser, we have a great one. Safe one. We look forward to show tomorrow. Thank you very much. Stay right there, folks who come right back. The gold report.