 Welcome back folks. That was up 88. You get the NAS like up 30 S&Ps up nine and a half Let's go over to our man. Mr. Basil Chapman. Don't forget folks basil doesn't outstanding show here every trading day 12 to 1 Eastern Standard Time also has a great newsletter the opening call Now as you get the way you get the opening call you come over to our website of TFNN And you're gonna see right under featured content the opening call I now as you hit that you're gonna see that our man. Mr. Basil Chapman is gonna be doing a Workshop for his subscribers this workshop folks is April 3rd, which is next Wednesday. Yes, you heard that right We're going into April already. Gotta love it the workshop is gonna be at 5 p.m. Eastern Standard Time and What the battle is gonna be talking about is where we are currently in the marketplace how to read the technical tools That will show you where the market is heading the outlook for 2019 and 2020 are we starting talking about 2020? That's pretty amazing The current risk and the potential rewards inside of this market specific sectors and stocks to monitor the workshop is going to be Archive for all subscribers now It's really easy to be a subscriber to Basil's newsletter folks as you come here and to featured content You're just gonna hit the opening call you hit subscribe and you'll get one month for 128 dollars Six months for 595 which is a hundred and seventy three dollars savings our year for 995 Which is a five hundred forty one dollars savings now They all come with a 30-day money-back guarantee So you can go over there you can check it out whatever one you like and then you're also gonna get a great workshop On next Wednesday, April 3rd, which is how to comprehend Basil Chapman. What's going on man? When you said 2020 I thought wow Serious and Tommy said that this morning when he was talking about your workshop. I says oh my god, man I just remember the year 2000. I'm looking at him and he was like all of 20 years old then it was like wow Time flies So this is gonna be very interesting if you're looking at the chart on the left This is the dating chart. It seems so far. We've been making a lower highs We've made one lower lower went from the 26,000 to 41 high of February the 25th Went straight down to the 25,000 to 52 level in the Dow Ran up and there's a big percentage. It did go from 25,200 to the 26,000 100s very quickly But then it gave it back and you can see there's this great trend line I love to use very simple tools whenever I can and there's a very simple tool I just took it from the low that was made back on the on 8th of February of this year. It's a 24883 There's a rising trend line to the low that was made on the level of 25252 and 25,501 was the low that was hit yesterday So that's the trend line source to the 50 day moving average However, what I am concerned about in the day you not yet the weekly as I say I've been talking about this for some time the weekly Dow S&P the QQQ that's the index 100 Have all the weekly charts are fabulous The IWM is starting to suffer some from the selling pressure but the others are pretty good and That means it's gonna be very important one of the reasons why I want you to have a webinar straight after the March Monthly chart is concluded is that I think it's gonna tell us a tremendous amount So I'm looking at the daily. I'm saying well the daily looks to me like we're making arch formations And if there is a if there is a doesn't have to be a close in the next few days if the S&P goes into the candle close of yesterday and that was 25,000 516 so in other words at any point if it goes 70 or 80 points lower I think we've set the pace now that we're going to test that trend line And then we probably going to break the trend line And then we're going to have this cup formation the cup formation in the chapter main methodology always says Watch out for that left side low. That's going to be key. That'll be 25,000 252 So I'm going step by step. Why look with all this effort The MACD the moving average convergence average and sassons technical tool right here in the middle between the price and This moving average here. It's very weak and the stochastics now only at 47 percent I love when it's over 80 percent especially 90 percent You're in the 47 percent area that is really not good the relative strength is starting to weaken So for subscribers, we started to take take off some of our positions along positions Some of them have raised the stock and we're building up a cash position We do have one position where we've got Option calls on a particular stock that got really hammered I think it has a chance to have a pretty good balance and that's all we're going to play there But in the meantime, I am concerned I think that this is a digestive phase now at this particular point because the SMH is a semiconductors And this is this is going to be a very big test of fundamentals as applied to technicals if you look at the SMH is at a hundred and six point ten The price has gone substantially higher. Well, first of all 114 area was March of last year. That's exactly a year ago makes it's all-time high plummets down to the 80 level and it's face of 30 points. That's a 27% 28% Pullback, but then it has this rally which is very strong and that was helped by the rotation through my micron and You had various what was the other one? It's Massachusetts company Was it XL and X? Yeah, Xilinx had a fabulous rally and each one of these health estimators go higher But I'm hearing from all sources that and I showed a chart the other day in fact I I think I discussed it with you when we were last on and I said to you There's this chart that I've been looking at which shows that the shipping of the semiconductors Is way down going into the early part of this year This is not absolutely current but it is up until the beginning of this year Look at that chart the yellow one and the blue line is the global leading Manufacturing index growth and that's down quite sharply and here you are you could invert this and that's what you've got for the semiconductor ETF the SMH something doesn't It just doesn't work out that way because you have to regress to the mean either the Semiconductor is gonna have fantastic orders over the coming six weeks to two three months and you just haven't seen it yet But it's there and the price is telling us that it's there But I'm hearing that they they shutting down some of the fab fabrication Centres the they are laying off people that doesn't make sense I think that the semiconductors are somewhat vulnerable and I'm gonna be watching that to me That's a bit of a benchmark so at the workshop on the week from tomorrow Wednesday at 5 p.m. April the 3rd I'm gonna be talking about the Divergences how for my subscribers. We are trying to handle this what we're doing why we We are starting short positions what I'm looking at how severe it could be We'll know a lot more when the candle closes on the monthly charts coming up this week at the end of this week on Friday That's the end of the month and I think it's gonna be a really interesting Webinar because we've already started to look at positions that we want to take on any big pullback We're looking we have some positions that we are holding that have done very nicely And we've lightened up we're taking off anything that looks somewhat vulnerable We are I just don't need the risk right now. I just want us to get out have some cash Cuz I think there's gonna be some really good buying opportunities So a very timely workshop for us because we are waiting for a pullback We're waiting for certain sectors. You know you spoke about the XLF the XLF the financials. Yes I Until we can really go Maybe I'm wrong, but I really think for the next phase of The bull phase. I think we need the financials. It's not interest rate anything. We need the financials because You I want the backing the structure of the financial sector to be with us on the upside So that's not ready yet And folks the way you get into this workshop just come over to our website at TFNN You're gonna see right under featured content Man mr. Bows what's happening the opening call you hit that subscribe button you are off the races Bows you have a great one safe one look for the program tomorrow. Thank you very much on YouTube. Thank you Stay right there folks come right