 Welcome back, folks. We have the Dow Industrialist right now trading down 190 points. You get the NASDAQ off 37, SAP's off 10 and a half, 16 and a half rather. Let's go over to our mammoth to Basel Chapman as we do each and every Tuesday at 20 past the hour. Don't forget, folks, Basel has an outstanding show here. Every trading day, 12 to 1 Eastern Standard Time, also has a great newsletter. The way you get the newsletter, you can go over to our website at TFNN. You're going to see it right under featured content. The opening call with our mammoth to Basel Chapman. You hit the opening call. You hit subscribe. You can get that for one month for $128. You can get it for six months at five, which is $173 savings. You can get it for a year for $995, which is a $541 savings. They all come with a 30-day money-back guarantee. Basel Chapman, what's going on, brother? Hi, Tom. How are you doing there? I'm doing great, man, yourself? Very good. Thank you. Interesting market, as always. Oh, yeah. No doubt, man. No doubt. Come in at the spot. We're into spring, right? We'll see what this market is going to do. Right. So I'm showing the Dow chart, yes, I always do. And actually, just before I do that, I'll just show you the Chapman Wave methodology what we're always looking for. We're looking for four higher peaks. We alphabetize them, uppercase A, B, C, D. The fourth highest peak is D. It can go higher than that, but at D, other things can happen. I always look for patterns. I think the market's made up either of a straight line move up or down, or an arch, or a cup formation. But that cup formation and arch formation can also have a variation, and that's where you get the lowercase H. It looks like a lowercase H, where you come down, make an arch, retest the left side low, whether you break it or you hold it. That's very important. But on the upside, you make it inverted Y. And if you test the left side and break above it, you've got to analyze it. And where are we right now? I'm going to show the Dow again on the left side. The Dow chart, there it is. So there's that inverted Y formation. Made the high on the 25th of February at 26,241. And we pull back to 25,252,000 points, rallies back up again, and it just sneaks above the left side high of 26,241, and it goes to 26,487. So for subscribers over the weekend, I did as much of analysis as I could on the various indices. The Dow looked to me like with that doji candle, that's a little, looks like a little plus sign, in a leg E in the Chapman wave just above that left side high that we were talking about from the 25th. And the MACD was good, but really way, way under where it was back when it hit that high on the 25th of February. Mr. Kasich had run up, but we're showing a little bit of weakness. So on Monday at the open, we shorted the Dow. And the very big issue now for me is this all very well getting into the short position. But I'm looking at the at the market and I'm saying, okay, this is going to be very interesting. Why? The weekly chart is still very strong. We had spoken about this the other day, the XLK, which is the S&P select tax spider fund went within two cents. I mean, how does a market ever remember where it was? Two cents of the of the all-time high back in October, 7627 in a V-shaped pattern goes down 24%. I mean, that's a big deal. But what does it do? It rallies back up again to 7626, a penny below that high, it had to go two cents higher. It would have made a new all-time high. So this V-shaped pattern is really important. And you coincided with looking at the QQQ, look at this weekly chart, there's another V-shaped pattern. That's not as good as V as you can get, too. I mean, not only is it, you rarely see this in the indexes. You can see it in stocks. I've got many charts. I used to call it a Groucher Marks Eyebrows Pattern years ago when I was doing an all-day webinar. Well, I saw one of these patterns and said, oh my, if I put little eyebrows on the left side and I put a big eyebrow on the right, it looks like Groucher Marks and we called it just for fun. But nobody remembers Groucher Marks anymore. Anyway, I said to think of it as a V-shaped pattern and 187.53 on the QQs on the 5th of October plunges 20% to 143.46 late December. And where does it go to? It goes to 185.28. I mean, this is just over two points away from the all-time high. So we've got to always look at it this way. You always talk about looking at ice, gapping over something that is when you store at a previous level. So I'm looking at this and I'm saying, you know, I think there could be a little bit of a pullback here. There could be some kind of digestion kind of buildup steam to be able to go higher. So not all the indexes are the same. Not all the stocks are the same. Look at this, Akamai is a fantastic stock. It's, look how well it's done. There's another one that was sent to me just a few moments ago and I thought, oh, I haven't looked at that for a while now because I can't find it. But it was at all-time highs. So it's not everything. But if you look at the XRT, which is the retail sector, this is not looking too good. So this is a, I like to call it a bifurcated market when you're looking at some sectors that are really doing well and others are doing poorly. That's what we're looking at here. So the Dow, Boeing, of course, is really pushing the Dow down. But the Dow itself was looking a little bit weak. So I feel confident that at least there should be some kind of a pullback here in the Dow, but it's how the others work, whether they, you know, IWM has been lagging. The semiconductor index goes within two points of its all-time high. Another V-shaped pattern. Look at this. Same thing, 1,455 was the March high of last year. And all of a sudden, it gets to 112.90 yesterday. So that kind of power, because it didn't go right through, because V-shaped patterns can be really powerful if they break the left side high, the former high, if you go right through it, unlike a cup, which really is a more determined move, a V-shaped pattern is like a rocket. So stalling here is going to be very important. And I think I mentioned last week that I thought it was a pretty important week for a lot of areas that included the dollar, which had made that pattern. Also a cup formation kind of stalled. But I think it has a chance to get to the 98s at some point fairly soon, a couple of weeks, holding very well if you look at the weekly and the monthly charts. So this is very select. We are still along the IYT, which is the Transportation Index. Another cup formation. The difference here is that when it took out the left side high for 192.27 of February, this time it's gone to 192.78. And the pattern is a little bit more stable than the down. Look at the stochastic, how it's holding steady at 91%. So I think this is very selective. I think that if you long, we are long still a number of positions. I like those positions. I would like to add to them. I just mentioned the grains to you for a couple of weeks now. The grains have been holding pretty well at this point. And we have a fund, an ETF that actually is part of the grain complex. So I like that very selective and very on the downside, I don't want to be saying everything's going down. It's very selective on the downside at this moment as well. It'll gather a lot of strength if the VIX index finally is able to rally and then hold its gains. It's up, it's at 14.32. If the VIX gets to 15, one has to be very careful. But at this point, this is the beginning of a move. And folks, the way you get Basil's newsletter, come over to our website at TFNN. You go into featured content. You can see the opening call right there. Check it out. Subscribe right here right now. Basil, you have a great night, safe night. We look forward to the show tomorrow. Same to you, Tom. Thank you very much. Thank you. Stay right there, folks. Come right back.