 Welcome back folks, Dow, Dow's down 183, Nasdaq's off 140, S&P's are off 28. Let's go over to our M.M. Mr. Basil Chapman as we do each and every Tuesday at 20 past the hour. Now don't forget folks, Basil has an outstanding show here every trading day, 12 to 1 Eastern Standard Time. Also has a great newsletter, The Opening Call. Now the way you get The Opening Call folks, come over to our website at TFNN, you go right under the newsletters, as you pull it up you're going to see it right on the right hand side. The Opening Call by our M.M. Mr. Basil Chapman, you hit subscribe, you can get The Opening Call for one month for $128, six months for $595 which is a savings of $173, a year for $995 which is a savings of $541, they all come with a 30 day money back guarantee folks, nothing to lose, everything to gain. Check it out right on the TFNN, right under the newsletters. Basil, what's going on? Hi Tom, how are you doing there? I'm doing great, man, yourself? Very good. Good? So. Yeah. So, hey, first off, right, I know, has summer come into Boston yet? We had two beautiful days, Saturday and Sunday. Oh, good. Yesterday was not bad but today it's raining again, I don't know, a lot of rain this year. A lot of rain, okay, you'll have a lot of grass. Yeah, well, the grass for the Newport Tennis course is fine but not anywhere else. Oh, that's pretty. Okay, so I'm looking at the charts up here. So just to review what we were looking at when I did my webinar two weeks ago, it was called the tide and I was discussing how, if you can identify the larger trends, using technical tools and I went through the different technical tools can really be a big help. So I discussed that we were short the dow from the day before the last high of April the 23rd, at 26,695, we were short from just below that and on the way down we took profits and then we switched to long on June the 3rd, the day of the low and we remain long and what's interesting is, let me, if I can just show this chart right here in the Chapman Way, if we're looking for the lowest low bar and the simple system is that we count each higher peak, we alphabetize them and when you get to the fourth highest peak, peak D, other things can happen. You can go higher to E, F and G but D is really the core of the waveform because it's at that point you can use other techniques and then simply put I like to look for arches and cups and sometimes you can get a combination. I made that red because when the left side low is taken out, that's negative. When the right side taken out to a going up, that's positive. So simply put that's what we look for just three basic waveforms straight line up or down and the arch or the or the cup formation. So you can see this is, there's the arch and now it's a very large cup formation. We went above the high of 26,695, the high of the 23rd. The high three days ago was 26,907. One of the reasons why we are still long is that I just, I just discussed with you that in the Chapman Way methodology, if you get an identifiable low bar that becomes a buy signal and then actually goes to a buy mode because the technicals in this case on the left side chart, the daily chart, the MACD is still very strong and the stochastic is over 80%, especially at 90% or higher and it's at 90%. You can anticipate that there's a really good chance you will still go to a C and a D. It doesn't feel that way right now because the Dow is down 180 and the S&P is down 24, but the S&P also has a peak B. So my suspicion is that we are going to go high. If I use my Chapman Wave automated, these are resistance and support lines, you can see right here there's a whole bunch of highs that were made, these are automated, they're generated using different techniques and you can see the one here is at 27,160. So I'm, the way I'm looking at the market right now based on this leg D in the weekly chart is that we have some upside. At this point, I don't think it's going to break much above 27,000 if we get there and that says we could go to a C, just a nominal C, maybe pull back and go to a D and then I've got to start looking at this as a trend line resistance, I call it the repellent zone, you can see it here in the monthly chart, which says that there's a chance that we're going to have a little deeper pullback in time and price, but my monthly chart is still very positive and it's pointing to a break above the all-time high of 26,951, probably this summer and so I still remain very bullish, but on a short-term situation even though we are bullish, we start to lighten up and get some cash positions, we still have some nice longs, I spoke to you about the DBA, which is the DBA Agricultural Fund, which we've been long from about $15.87, that's gone to a D, so that has wheat, corn, soybeans and they've been holding very nicely here, so I'm looking at this and I'm looking to see how this 200-period moving average at this Pd at 16.91, if we're going to retest that, break above it, or it's going to become a repellent zone because it has achieved what I wanted was that D, but the weekly chart is starting to improve and that's if you can hand off from a daily to a weekly chart, all of a sudden you've got something longer term, so I'm going step by step in that situation and I had spoken to you also about stock that we had bought, I used it as an example just before my webinar, I did it live on air actually to demonstrate that we have a particular Chapman Wave formation and we went along this stock which is prologous, it's a REIT in the industrial area at 75 and it's trading right now at 80.54, it's also made, this has made a peak C at 82.82, so it's a very nice percentage gain, a short period of time, but I'm anticipating that it goes to a leg D, that's using Chapman Wave methodology, these are the things we look for and yes, just like the Dow has gone to the weekly chart leg D, so this is a leg D, so a lot of this says to me, getting a little bit top, you've got to be somewhat careful coming into the end of the week, maybe the beginning of next week just before the holidays, we'll see and you know the dollar you spoke about gold, of course gold is at a spectacular move, the dollar right now is in a daily sell mode and a weekly sell mode, but it's just coming to an area around the 96th area where that's key, very important in the monthly chart and we've been long since April of 2018 at 90, so it's had a very nice run, but I think in the end the dollar is going to hold well and we should see a leg D in the monthly chart, so how that impacts, I think in a way dollar and gold are still a little bit separate, this is my interpretation, you're the expert but I think gold is still more the the fear trade which is one of the reasons why it's outperforming silver and that's why the dollar, actually when you look at the dollar it's held very well concerning what gold has done, so we'll see how long that's going to last. Yeah listen, it's going to be intriguing man, just watching this whole thing shake out, I mean I'm looking for a little bounce in the dollar with light volume and then you know the next leg down, so yeah I think dollar is still in a consolidation question, that's another question for me and you're talking about that peak D, look yes peak D at 103.82 in January of 2017 and I thought I'd show this where was it you were talking about it a little short while ago was it the TLT, yes the TLT, no it was the TNX, you spoke about the 10 year, look at this on a monthly basis that dollar did a peak D and look at the sharp pullback it had and look at the TLT this is the TNX which is the 10 year, right went right to the monthly 200 period moving average of 32.48 and look at that sharp pullback so those D's are pretty powerful. Big time and folks the way you get the newsletter come over to our website at TFNN you're going to go right under the newsletters as you go into the newsletters you're going to see the opening call but I meant Mr. Basil Chapman you hit subscribe and you are off the races Basil you have a great one safe one of course we look forward to show tomorrow thank you very much Tom you too thank you stay right there folks come right back