 Let's get over to our mam. It's the Basil Chapman as we do each and every Tuesday at 20 past the hour And don't forget folks Basil has an outstanding show here every trading day 10 to 11 Eastern standard time Also a great newsletter the opening call now It's very easy to get Basil's newsletter folks. You come over to our website at TFNN You're going to newsletters you're gonna see it right on our left-hand side second one down the opening call You hit subscribe you can get that for one month for a hundred and forty nine dollars You get it for six months for 695 which is a savings of a hundred and ninety-nine dollars or 22% And you can get it for one full year for 1195 which is a savings of $593 or 33% now they all come with a 30-day money back guarantee So you go over you can check it out if it works for you awesome If it doesn't work for you on the twenty-nine day folks You can cancel it and you get your money back and in between that time You're gonna get a great newsletter and a great education Basil Chapman, what's going on? Hi Tom. How are you doing? We've got a very wet day here. Do yeah, okay? We needed it good. That's good, man. I'm sure they wish that they had some wet days out West Yeah, let's face it. Well, we've had a drow turn mostly this year in the summer and we need this rain Yes, yeah, wow even up there. Okay, all right So in the market, you know Do we have a droat is it raining is it storming is a sunshine gonna come out man Well, it's very interesting if you look at the left side Move from the let's just go to this pattern that we're looking at in the left side chart, which is the dating chart Okay, there was just a steady Every day you saw buying come in so from the little truck that we made on the 27th of July at 32,000 19 31,000 and it's called it 800 all the way up. It was just steady buying to the 34,281 level on the 16th of August coming down It's been almost a straight line down and we've come down in a shorter time span I call it boss symmetry from that left side low that we were looking at to the way up and coming down We've gone down and broken that support in a shorter time frame I'm always a little wary of that because it's just saying that weaknesses come in Meaning that the buying pressure is very minimal at this particular point two things are already quite important and I'll spend a little more time in my show tomorrow in the tiger technicians out and discussing this but if you go from the 18,213 low of the 20th of March We doubled going to 36,952 and that that high in January the first week of January When you think of all the things that have gone on this year I still say at this particular point as we speaking and what is a 321 eastern time on the 6th of September could be different tomorrow, but right now We've done very well when you consider that with all the negativity We've only pulled back from the score of 37,000 to the low of To the low most recent level. That's today's low of 31,000 so in the context of what we've had what all the news is Representing I consider that to be quite good. So in the actual for what I have for my subscribers So we've been along we still long a call from way back in 2020 that we've got the low and we've kept that position Not all of it. We've taken some off, but the most recent low that we got which was the low That was on the beginning of in the middle of June That one we've got stopped out of very nice gains And then we gave back some because we've tried to go long for two days But we didn't go short of the 22nd of on the Yes, the 22nd of July I'm sorry. That was wrong 22nd of August. We went short the doubt so we still short that position and basically what I'm looking at here is Within the context of patterns I do not like that we've turned down so sharply from this peak B with a doji candle in the weekly chart from the high that was made Back on the 16th of August and it's been relentless For two weeks and today the start of a new week once again It's a red candle and that just says to me And I found that with subscribers We've raised cash again We've got a very big cash position once again and it's becoming a little bit more difficult to find positions that Look as if they could withstand any intense selling. So we're on the sidelines here We're waiting for some entries. I've got some stocks I actually now have a couple of stocks that looked like they could be good short positions So that's that's a change and at the same time if you're looking at you had spoken about the dollar I just asked you a question about that the middle chart there, please go back. Yep. Yeah, so As you said you only got to be and was selling off is that as will you are right now under the a actually? Yes, it is under the a but remember my the whole concept of the Chapman wave is if you don't take out that initial Starting point in this case 29,653. You are still technically in an up move I see okay. I just you have to restart I get okay cool Okay, and we have seen patterns where you've had huge gains with big pullbacks like this and then it just suddenly takes over Okay, just clarify. Yes, and the and then you were talking about the dollar Well, the dollar has just gone to a leg E for a multi-year high. Of course, you spoke about that 121 high that was made way back was it 21 years ago. Yes, and So what we've done is we've gone sharpie above the hundred and three point eighty two high of January of 2017 We're at 110 right now I say sharpie just in the chart pattern in numbers Seven points is not that great a deal But it is on the chart because this is still leg C You can see the MACD strong stochastics flat at 89% and that's very good So when I try to put this together, I'm saying that this week we can see a number of aspects that either are continuation patterns or reversal patterns because if you look at the Let me go to the TBT, which is the inverse of the bonds and this is the right here This is the ultra short lemur 28 t-bond ETF peak C in the weekly chart in the monthly chart We've got a test of 29.56 was the high of the 17th of June in the weekly chart And we've got a potential leg F. So as we're getting close I always look at this to say if there's a nice cup formation and you're getting towards the recent The most the highest level that you've got on the left side. That's yet 29 point 56 That's going to be the test and how it either breaks out or reverses So we're getting really close to a really big test for me in the bonds And if you look at bonds, look at this and I'll do a little bit more when I do my show tomorrow my target technicians hour I did some today, but I'll do a little more tomorrow because you can see this big cup shape in my triple yield chart This is the this is the 30 year t-y-x t-bond yield This is the 10 the brown is the that's white the brown is the tnx and the cyan the light blue one is Fvx it's the five year and you can see what I said to subscribers Let's watch to see how this cup formation forms a handle not one of my favorite patterns And if it's able to test the 34.72 that's two point four seven two percent That's going to be very important And if you're looking at the eyeshares of the global timber and forest you ETF would Wod it's coming right back to the 200 feet moving average and is starting to impact the photographing housing index So I don't think we can take what's happening now You're likely at all because there are a number of Very important aspects if wood goes below that 200 feet moving average Have a great one boys. I'll have a safe one. Thank you, Tom. Stay right there folks