 about some of the action. Let's jump over to our man, Basil Chapman. Folks, you can check out Basil's Tiger Technicians Hour every trading day, 10 a.m. Eastern time. And of course, don't forget about his outstanding newsletter or the opening call. You head on over to the front page of TFNN. You click on the newsletter tab. You click on the opening call. You can sign up. And remember, folks, every newsletter we have, you get a 30-day money back guarantee. So try out the letter. No harm, no foul. If you don't enjoy it, if it's something that you're not going to trade with, that maybe it just doesn't fit your style, cancel it, you get a 30-day money back guarantee. You can sign up for a month for $149, six months for $695. You save $199 off the monthly price or you go for the year. And as I mentioned, all of those, if you're planning on keeping it, maybe check out one of the longer subscriptions because you still get a 30-day full money back guarantee for the six-month the year. And he just did an outstanding webinar in December that's there. He sends out emails with videos every weekend pretty much talking about what is going on in the market. And let's talk about it right now. Basil Chapman, what's happening? Hi, Tommy. How are you? Good to talk to you, man. I'm doing fantastic. How are you? I'm well. Thank you. Good. Well, I'm interested, Basil, because, of course, I listen to your show all the time. You're right after mine in the morning, but I haven't got to talk to you in a little while. And I listened to you when you're on with my dad, of course. But I'm looking forward to this conversation, seeing where we are. Pretty interesting point in the market, quite a day for the market. Some winners and losers. But what are you looking at out here, Basil? So I thought I'd speak towards what we're doing for my subscribers and my opening call. So we went short the Dow actually about five, six sessions ago within about 50 points of the all-time high, even though Friday it made a new all-time high. It was just fraction of it to 37,825. And one of the reasons is we actually have call-long positions. This is just a trading position. I'm not sure how long it's going to last until I can get a real good clue this Friday, because the nine-period moving average, something I've used for a while, I may as well do that right now. The nine-period moving average, this little green line here on the deity on the left, in the middle is the weekly, and the Dow on the right is the monthly. And this little square here is the 120-minute chart. In the Chapman Way methodology, we're always trying to identify the low bar, count its successively higher peak. When it gets to the fourth highest peak, D, that's when other things can happen. It's a DOE that you already expected. That's maybe where we're gonna get a sharp pullback. So you can see in the 120-minute chart, I'll just make it bigger so that you can see right here. This is the 120-minute chart. It went, it made this kind of double top, and it went to a peak E, and then it was on Friday. Now it's been pulling back. Now you can see the technicals, the MACD, it's weak, the stochastic is somewhat weak. Nine-period moving average just went under the 14, so the 120-minute chart on a very short-term basis is in a cell mode. The deity chart hasn't even really given a cell signal yet, but if I do a measurement of this vertical line where the peak D was the 37,790 on the 2nd of January, and on the 12th of January it went to 37,825, you can see except for this green line, the nine-period moving average, which I call the, the, my tool of last resort. This is the one, you know, like the Fed is supposed to be the, basically the bank of last resort for the United States. So this is my, for me, it's the tool of last resort because look, it's still holding well, but that MACD has turned down sharply. The stochastic is now under 80% and 70% on balance volume as it had, not a big pullback, but it's pulling back, and that's the deity chart. But the weekly chart, because it made a fractional new high last week, this week, if it doesn't go about 37,825, it finally makes a peak, and I'm calling this a peak A, right here in the deity chart, in the weekly chart, and that's quite exceptional because the SMB is already in leg B and the SMH is the same thing. So this is going to be very important. What happens is coming week for the Dow. But as you said, there are different things happening simultaneously. And what's interesting for subscribers is that we have the stock, this uranium stock, which we bought at $3.64 cents. And today it hit 8.29. And I did this for about a week or two. I've been doing this and showing on my show, doing the target technicians out, which I'll do, I'll show again tomorrow at 10 o'clock, how these uranium stocks have been breaking to multi-decade highs. I mean, 2011, it was a 738. And now look at this, it made a new high at 8.29 today. So something is going on there. And the other stock that we have that is also just not even interested in what's going on in the general market is Microsoft. So we bought it at $3.38. Some time ago, you can see right over there. It's been rallying very sharply. I think it's getting somewhat overboard. You can see by the red candle, but it made a new all-time high. And at $3.94.03 this morning. And it just tells you about what's going on in this market. It is not even bifurcated. It's like it's trifocated because you've got the Russell 2000, very weak. Those small caps are just not doing very well. And then within this, you've got the estimators, which I must actually confess, we are short and we've done very nicely on the short side on the estimators. We did try to add this morning and lost a little bit. But I'm waiting for the estimators, the semiconductors to actually start to pull back. If they pull back, I always say that where the semiconductors go, that's generally where the market's going to go. So far, at a new all-time high today, I can't ignore that. I'm watching it very closely. But as I've told your father when we spoke together, I said, for me, the chips are like the oil stocks, the oil sector of the 1900s going into the 2000s. Now you've got the chips were basically the oil of the 21st century. Everything now has chips. In fact, chips also probably have a little bit of oil. But it's very interesting. So that's why I think it's really important to monitor them. But as it stands right now, I think we're in this consolidation phase that can go on a little longer. But those weekly charts, and I'll just show you quickly if you have a moment. Of course. S&P. S&P leg B. I can't call it anything but that right now. That's very positive because in the Chapman way, as I said, should go to at least four higher peaks if it's in a by mode. And with a stochastic at 92% of the MACD strong, nine period over the 14, this is very strong. So this is over a period of and it'll take a lot of weeks to get to that leg D. So so far, that's a positive if you look at the QQQ, the triple Q is really the NDX100. I've got it at a peak B, but it could very easily go to a C just by going over the last high, which was at 412.92. So all of this is saying to me, in a consolidation phase right now, got to be very select. We're trying to be as select as possible. But at the same time, what's working seems to continue to work. And what's not working as you saw in like a Boeing that said some of those stocks just they've been hammered to the downside. And yet the monk is pretty resilient. It's a great wrap up Basil. I appreciate all the info. I was jumping around as you were talking about it in a video right up another 2.7% you were talking those chips talks. Basil we appreciate it as always man. I look forward to the program tomorrow and have a great night man. You too. Thank you very much. Thanks so much folks. We're coming back with Tim Ward. Stay tuned. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all, for daily market overviews that give you direction on the key indices, selective stocks and commodities. Subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up down sequence gives you an edge in identifying price turns, finding the peaks.