 I'm Amis 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 Basel's newsletter folks, you can go to our website at TF&M, you hit newsletters, you're going to see it right on the left hand side, the opening call. You can get the opening call for one month for $149. You get it for six months for $695 which is a savings of $199 or 22% and you can get it for one year for $1195 which is a savings of $593 or 33%. Now they all come with a 30 day money back guarantee folks, he's got a great newsletter, he puts out great information, I mean every week is like a whole new education folks so get over there, try it, kick off the new year with it, you're going to be happy you did. Basel Chapman, first off you are amazing as usual and thank you for all the presence, we're all happy here, we're all fat and happy, I'm telling you man, Basel folks gives all of us here at the staff, it's the fastachios and it's amazing packages so need this to say Basel, we are all fat and happy, thank you very much man. Well I appreciate everything that you guys do, you and Tommy and the crew go out of your way to make it really easy for us hosts here at TFN just to do our job the best we can and I appreciate that, thank you, happy health in new year to all of you and to all the listeners. Thank you and you are so Basel, thank you, so what are we doing here now? So this is really interesting, it's funny you were talking about a golden moment ago, the fact is that gold's been going up and you didn't quite like all the technicals so I'm looking at the you know I love the Dow, we've long been long, we've got almost every single low for the last many million, even got the exact day of the low in March the 6th of 2009 but at this particular point there's this pattern that says we're holding let me show you the left side chart is the daily of the Dow, the weekly here is in the middle and on the right is the monthly chart, it's held and when you think about the terrible news that's just forget about the year, I'm just talking about the last five days, Wall Street, you could just name the Wall Street Journal any paper, even your local newspaper has the economy up in the front page and yet look at this 34,700 down to the 32,600 area holding the 200 period moving average in that manner I'm kind of impressed at what's happened even when you think that in five or six sessions we wiped out basically six, seven weeks of upside action the speed of which we came down and the nervousness is palpable and I'm looking at this and I'm saying I'm anticipating some kind of a bounce it's at that bounce that I'm going to really have the test in a strength or weakness and that's going to be the big test and the Dow I'll show you this year it's also fascinating I'll go to the black background charts this is a weekly this is a dating chart of the Dow from the exact high right here this is a January I think fifth of this year and with all the terrible news look this chart this is not a major bear market chart at all and look at this trend mine I call this the Chapman wave inside track because when it keeps getting to that level of resistance it gets dragged down this time it got dragged down momentarily and then it went to a higher high came within eight or ten percent of the all-time high so I'm impressed I still think the Dow to me is the meat of what's what we're looking at here that's different it's just the Dow 30 bits a really nice mix look at this one this is the S&P this is the weekly chart black background and I also love black background I wish I could use black background all the time because yeah they look good man because these colors yeah remember doing this one so I don't know I was out somewhere waiting in a waiting room somewhere and someone went by and they said wow that looks like a Picasso like a modern modern art I said yep that's what it is so I love these colors but anytime look at this Chapman wave inside track repellent zone look at the S&P went right to the outside green line if it started moving above that line it would be matching the Dow couldn't do it look at the QQQ the NDX 100 same thing but I also consider over the years I've learned that time is as important as price because sometimes you can do things really quickly like what was it exactly a few years ago remember that December crash we went right down to the 26th of December that was speed that was 2018 yes I threw it yesterday price and and very short time sometimes it just goes on and on makes a lower lows and lower highs that's one of the patterns you've got to be very wary of because that's just saying that there's no real inner strength so it's going to be very important look when you look at this this is the QQQ NDX 100 trading vehicle and it's been a grind to the upside it got to that resistance and yet it's one of the smallest rallies we've had in a long time and the MACD is down the stochastic is actually at a low it's at 6.06% that is really low and the on balance volume at this particular point is giving a signal that says there should be a rally any day now so I'm looking at all these different charts yes the IWM the Russell 2000 same thing it gets it tries desperately to get over the inside channel resistance cannot do it but it's holding much better a little closer to that line than some than the QQQ and I could just go on look at the IYT this is the transportation I'm not a Dow theorist but I do like when the transports are in concert with the Dow 30 and they absolutely not right now couldn't even get to the outer line of the inside track repellent zone so in that regard we've raised cash for my subscribers I'd like to put it to work we're looking at certain areas under the radar and I think it's really important that it's very selective don't have to get carried away started position small position is starting to work we can add I'm also starting to look at a number of stocks in the single digits that are really holding very well and they could be almost independent so I think this this is a market that is looking at the price points in every sector and within every sector you've got some stocks that are holding really well and some that just look terrible in fact we've had I don't remember a time where in such a long period we've had stocks that are actually down 80 to 90 percent and still cannot get a decent rally so I've got to respect that but at the same time I think the fear factor is palpable it's out there and you can understand why because the news you know every time there's a news report it isn't very good and in fact the Fed would like even more bad news but I'm kind of impressed the way certain stocks and certain like the Dow holding pretty pretty well under these conditions so we raise cash I hope to be putting it to work over the next few weeks we're going to be finding stocks that I think can be under the radar in other words they in areas that have a price point in there whatever they're selling where they aren't affected as badly because they can raise prices or they can at least hold their prices without you know having it being affected by consumers and that's that's kind of difficult but there are there are companies healthcare is probably in that area but there are a couple of areas but it's very select and maybe we're looking at the metals so I've said to subscribers I like the metals Silver's acted a lot better than gold I shouldn't be telling you this as Mr. Goldmaster himself but I do think that there's a place in in a portfolio for the for the metals so we're looking to see a nice pullback like to get into some of those and folks it's very easy to get bowser's newsletter move it out website at tfnn and hit newsletters your opening calls right on your left hand side you hit that and you are off to the races bowser have a great one safe one we look forward to tomorrow morning thank you Tom you too thank you