 Let's go over to our man, Mr. Basil Chapman, as we do each and every Tuesday 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 a newsletter, folks, from over to our website at TFN. You're going to go into newsletters, you're going to see it right on the right hand side. You just hit that opening call. You're going to hit subscribe. You can get the opening call for one month for $149. You can get it for six months, for 6.95, which is a savings of $199.22, and you can get it for one full year for $11.95, which is a savings of $593.33 or 33%. Now, they all come with a 30-day money-back guarantee, folks. Basil not only does an outstanding newsletter, he has some great archives out there. You can go through them. You can really understand how to ride that wave each and every day. Basil Chapman, how you doing? Good afternoon, Tom. How are you? Good. You're getting your voice back. Hey, man, everyone liked that voice you had, and I'm sorry you were sick, but that was voice was pretty cool. That was a Paul Robeson voice. Yeah, it was very unusual. I wonder what happens to the body, how things can change like that. It actually put me down at least an octave lower than my normal tenor voice. Oh, yeah. Oh, yeah, for sure, man. I thought I was listening to the Mafia when I was on my way to the airport on Friday. In a good way. It was a great voice, man. It was deep. It was like, wow, man, what a trip this is. Yeah, it was awesome, though. Well, I hope it's going to be over because, yeah, the healthiness has to reach you. That's for sure, man. That's for sure. So, what are we looking at out here? So, there are a couple of things that are going on. One is, as I mentioned last week, we've been raising cash. We've raised stops in our long positions. If you're taking out, that's fine. I think there's going to be plenty of opportunity if this market does turn around. There are so many sectors that were very, very strong and then just got really decimated. If things turn around, there'll be plenty of buying opportunities. So, I'm not in a rush to do that. But what is very important is that within the context of patterns, I wonder if I can just do, I'll get this right now. It's because it's a very interesting pattern. There's a pattern that I talk about which is the price rises and then all of a sudden, it starts to fall and it makes lower highs and much lower lows. Then it finds some support and all of a sudden that declining expanding cone turns around with a V or a cup shape formation, takes out the declining trend line and actually works its way all the way to the upside. Well, it works both up and I reverse the chart so that even the lettering is upside down and it works on the way down. I have a couple of, really, basically a rule of thumb for, and just do that so you can see it. So, this is the daily chart of the Dow. And what has happened, we came sharply down to the 29,653 low of June the 17th and it started to rally and it kept making higher lows and then much higher highs and then eventually it went in the chapter, we went to a peak F at 34,281 on the 16th of, that was the 16th of August, turns around and that's a little, I call this a Sino-Doji candle after a high is made or one by before, one by after. It's very difficult to see because if you're looking at tops and bottoms, you won't necessarily be looking for some kind of a tiny plus sign Doji candle. Well, that's what you got right there on the day after that 16th high and then it started coming down. Well, three days later we went short via the DOG and we remain short. That's at about 33,300 in the Dow and what happens in this particular pattern when it goes just to a peak A or a B and turns around the pattern that you and I were talking about last week called the dreaded H. If it takes out that left side low that can get very much deeper but the higher it goes when eventually it turns around the source to make this extended expanding arch, expanding wedge formation is used up so much energy to the downside. Now I can move this away. So much energy that very often it starts to stall at what I call the Chapman Way inside track support area. That's now become a resistance area, but it doesn't go that far before it attempts to have a really good rally. See, it hasn't taken out the 29,653 low of June so far. So this is a very important moment in terms of the patterns. This is the daily pattern. It's a little different in the S&P and the QQQ, but you can see in the weekly chart, we've already taken out in the weekly chart, we've taken out that same support level and the monthly chart now is very important. So I think it's numbers that we're looking at because if after what is not what the Fed says or even what the Fed does, it's what the market, how the market responds. That's the only thing I like to look at. What will the market do after tomorrow at 2 o'clock or 2.30 with whatever the Fed and the Fed's in a very difficult position. So it's numbers. So 30,000, we're at 30,684 right now. In September, going to the first week of October, I think there's 30,000 psychologically and having to do with millennial levels. I think this is very important, the 30,000 it has to hold. If there is a rally, that rally has to get above everything that's being looked at as resistance and it has to get to the 31,500, 31,700. So for me, those are the important numbers that we're looking at. 900 points, but we know that in this market 900 points is not 900 points in a normal market. Today we had the spread. Look at the spread today. Well, actually I see the spread is not as much, but if you had looked at the futures folks, the spread would have been actually more, right? Yes. And look, the same thing happened in the S&P. Not by much, but we've taken out the key Chatham Wave inside track support level. Now that's a resistance level at the 3980s. We're at 3850s right now. If you look at the QQQ, the NDX100 training vehicle, that hasn't even broken above the inside track resistance level and held above it. It's gone once or twice, just above it, but it's come right back again. So there's a lot of work to be done. And that's what I'm saying. And I think I always use the SMHs as a good example of strength in the market. And the SMHs are holding right now. They're only down two or two or three, but they're at the very lower end of the rung. So there's a lot of work to be done. So that even if we get a terrific turnaround going into the end of next week, it's how the different sectors respond. You can get individual stocks within a sector. For instance, look at Tesla. Tesla doesn't even know that there's a bear market going on right now. It's holding very well. Will it continue? Well, it doesn't matter. At this particular point, you've got specific stocks in specific areas. But I'm saying as a general thing, I'm looking at semiconductors. I'm looking at the general market. I'd like the Dow 30 to at least get on track because it's just such a nice mix. It's got financials. In fact, if you look at the financials, XLF, the financials have held well, but not that much above the June high. But I mean, in essence, they're also being weakened. So I like to see the financials going with the general trend of the market. I like to see the semis. So there are a lot of wishes that we have, but price is the arbiter of the trend. So if we can get a good seven or 800 point rally going to a week from today, I think that'll be very good. And folks, come over to our website at TFNN. You're going to go right in the newsletters, hit newsletters, just see the opening call right on the right hand side. Hit that baby and you are off to the racist. Baz, you have a great one. Safe one. Glad you're feeling better. You know, I am. You are quite a trooper, man. I'm telling you. Well, I'm looking forward to the show tomorrow at 10 o'clock. There's a lot to discuss. I love it. Okay. Tomorrow, I'm on 10 o'clock, folks. Baz, I'll have a great one. Safe one. Thanks so much. Thank you very much, Tommy. Stay right there, folks. Come right back.