 Welcome back folks eight seven seven nine two seven six six four eight lots of action out after the close folks Bottom line is that when you stop putting it all together. You have the Q's trading down about a buck right now Let's go over to our man Mr. Basil Chapman as we do each and every Thursday at 20 past the first hour and don't forget folks basil has an outstanding show here Every trading day 12 to one Eastern standard time also has a great newsletter the opening call now the way you get the opening call Just come over to our website at TFNN You're gonna see right under featured content the opening call bottom line. You can hit that opening call you hit subscribe You can get the opening call for one month for a hundred and twenty eight dollars You can get it for six months at five ninety five, which is a savings of a hundred and seventy three dollars You can get it for a year for nine ninety five, which is savings of five forty one and All come with a 30-day money-back guarantee check it out folks right on the front page of TFNN dot com Basil Chapman, what's going on? Hi Tom? Welcome back. We missed you. Thank you so much. I appreciate all the help You gave us that's always a pleasure. We really appreciate it battle. Yeah, it's great being back to no doubt man That's funny as you land you say well good to be back in America. Oh, no doubt man There's no doubt. So lots of action out here Basil lots of action. Let me just briefly show something here I can think it's right here. Is that it? I hope so. Yes So I just wanted to say that in the Chapman methodology what we try to do is identify the most obvious lowest low bar And from that low bar, we try to get a buy signal that'll be generating a buy mode Which says that you should go to four higher peaks alphabetize them up a case on the way up And lower case on the way down and they can go to G But the fourth highest PD is where other things can happen I always talk about patterns and the two patterns that I there are three patterns in the markets that I'm always look at Straight line up or down. That's one a couple of an arch That's two or and sometimes you get a combination straight line down and then a rally that fails retest the low bar we've seen that in some of some of the some of the indices and You can also get a rally that goes to the top makes a cup formation Retest the top and how it breaks above is going to be very important So we'll see that in action right now. The Dow is trading at 26,000 462 it made a high of 26,695 You're actually sure for subscribers the Dow one of the reasons being we've gotten to the D There's the cup formation. It made a cup and a handle but a rising one The mag D was didn't show any any of the strength that had shown when it was much lower down back at 26,241 in the late February You can see the mag D was up higher and now it's just down here It's almost about to cross negative and the slow stochastic has been very good now It's at 85% say sorry to pull back not all the the ducks are saying that this thing should tank It is saying there's a good chance that there's gonna be a bit of a high ages right now So we'll see what happens and you can see right here We've got a V shape formation in the weekly chart But then there's this sign that there could be an arch formation saying a little breather look at that little doji candle We'll see how tomorrow closes out seems to me that if you're looking at this market I often talk about a bifurcation where you've got two separate Even within a sector you've got separate the stocks going different ways for instance today You had a very sharp move down Both in caterpillar and triple m and yet you had microsoft doing very well also in the dow So this is the time to be very selective very careful And one of the things that we've done is we've got the iyt we've had long since the 186 area Yesterday we went to 200 and I see this be a little careful here So we've got a pullback today and now I think the Transports could take a little bit of a breather a fantastic move going from 155 to 200. That's almost a 50 point gain That's that's a 28 percent 30 percent. That's very good So I think it's just I'm looking at this and I'm saying let's see what happens And what's also interesting is that the semiconductor index which we've had a really intense focus on Here we are Makes it made a new all-time high at 120 point 71 And sometimes the fundamentals and the technicals just don't agree But he has the north american semiconductor equipment industry posts for march 2019 the billings And here it is it shows back in september. There was a 1.2 euro a year gain Just 0.5 in october minus five percent in november minus 12 in december Minus 20 in january february was minus 22 and the march Preliminary is already a 24 percent down lower and yet we're at all-time highs There's something wrong with that picture So I'm thinking yeah that we're getting a little ahead of ourselves in some of the sectors Maybe the semis are going to be the clue because if the smh is trading a 117 right now Start to trade under 114 and he says yeah, probably going to have a timeout So we're watching that very closely Yeah, you're going to have that right now because intel come out with the numbers and the SMH's are getting slammed. They're down another two dollars. They're trading 150 They are okay. Good and you know yesterday you had xilinx, which is just an absolute winner for years gets smacked But lamb research they keep buying back stuck out on what they're doing They got the same story as the others yet. They they had a big spike today What is interesting is you were talking about the dollar And as you know, we've been along the dollar now it's over a year. April the fourth of last year went along at 19.07 We've taken just a tiny little bit off I've liked the dollar for a long time And the one reason I've liked it is that I've considered it to be like an international bellwether or a benchmark for Countries looking at what's the strongest? Where can we put our money? And I wouldn't be surprised if a lot of countries actually putting their money in the dollar somehow or other And I think that's benefiting the the dollar. So now we're in leg d and as I said before we got look at these I was talking about the cup formation. You've got cup formations all over the show Look at this big one in the weekly chart. Look at that. And now it's sorry It's just at about resistance right now. Maybe you can go a little bit higher So I'm going to be watching closely because now that we've got the breakout of the monthly into leg c For me, it says, okay, you achieved exactly what you wanted our target was to start leg c with good technicals Maybe now there'll be a bit of a breather because we're going to be watching gold and and some of the metals and certainly some of the agricultural stocks agricultural Grains to see if they're able to rally here because this strength in the dollar has really Being quite a negative effect in some areas. So this is going to be a very interesting point So I still remain the longer dollar. I think it's I'm hoping that it's the currency of 2019 as well as it was for 2018 but this in leg D is always where I get a little careful the mag D is good in the daily Stochastic is at 84 percent. I would have preferred to sit at 90 percent We'll see a very important period right now and you know, the euro is testing lows So this this is going to be important Yeah, pretty wild and listen folks Don't forget every trading day you can listen to basal right here 12 the one eastern standard time great program Uh, you want to get a great newsletter the opening call the way you do it come over to our website at tfnn You're going to go right into featured content. You hit the opening call and you are off to the races Man, there's a lot of moving parts in this baby out here today basal Absolutely. Yeah, you know, your night technologies shoots up to the upside and then triple m and they usually travel kind of together This is a very interesting market right now because now you're starting to see I think you're looking at the potential for what's going to happen in the summer where the strength is Where the overboard sectors are very important. We coming up going into the first week of may You're gonna love it. Check it out folks right in the front page of tfnn get out of featured content I'm man. Mr. Basel. It's happening at the opening call. Basel, you have a great one safe one We look forward to the program tomorrow. Thank you very much Tom. Good to have you back Thank you. Appreciate it, man. Stay right there folks. Come right back