 Welcome back folks. I doubt our industry is right now done 28 nazik is off 17 s&p's off seven and a half Let's go over to our mammoth the basil Chapman as we do each and every Tuesday at 20 past the hour Don't forget folks basil is an outstanding show here every trading day 11 to 12 East 12 to 1 Eastern Standard Time shame on me Great program also is a great newsletter the opening call now the way you get the opening call folks You come over to our website of TFN. You go right under Featured content. You're gonna see the opening call right there. You hit the opening call you hit subscribe You can get it for one month for 128 dollars a month You can get it for six months for 595, which is a savings of a hundred and seventy three dollars You can get it for a year for nine hundred ninety five dollars, which is savings of five hundred and forty one dollars I'll come with a 30-day money back guarantee folks. You get everything to win zero to lose That's a Chapman. What's going on? Hi Tom. How are you doing doing great man yourself? Very good. Thank you You're good. So we get the Fed coming tomorrow. We get the end of the Window dress and end of the month getting you the month. That's just everything is coming together here so this is going to be very important for a couple of reasons because almost all the indexes and the stocks that Certainly are very important to to what I look at They have overhead resistance where they are right now or just a little above Okay, so it means that there's going to have to be say the Dow for instance would have to go to the 27,000 480 27,500 the moment it's there That's that's just gonna force a lot of people in but with this this kind of resistance I've got a feeling that within the context of what happens with the Fed That yep caught a point, but you know, they also have been some very good Economic reports coming out. I don't think they can go to 50 So this is what I'm looking at For us for subscribers to my opening call. We have we still have a Core position from the low that was on June the 3rd on the long side of the Dow Within that contact we context we've taken some profits So we took a little profits off this morning But nine points away actually seven points off the all-time high at 27,000 398 that was the high of the 16th, but at 27,000 391 we started a short position and we've added to that and one of the reasons is Within the context of yep, it's gone sideways. You can see on the left side chart. This is the Dow daily It's already just gone sideways within a 300 point range, but my thinking here is that if there is a close below 26,000 950 in other words we get back into the 26,900. I think we could start a Longer maybe not so deep but a longer time out so that we just have another week or two or maybe even three of Consolidating it could get worse But this is really my thinking that so many stocks are bumping up into resistance. It's really going to take a whole new a breakout to the upside to bring in more buyers and I think that if you look at The key stocks a lot of them They've had very very big moves in the six months or seven months that we've been since the beginning of the year So I think they kind of do for a rest, but here's what what I'm looking at within the Dow It'll be below seven 27,000 I put it at 27 Sorry 26,000 950 go below close below that you're already looking at a Consolidation that's been going on for over two weeks So that that'll be one of the things that I'm looking at a break above 27,000 420 says be careful now we could find more buyers I'm not sure how but that could be because of what the Fed says But if you're looking at what we have we've had Bank America from the 24s There's a technique that I talk about left side right side cup formation I'll show you right here. Look at this beautiful cup formation from the high that was made back on the 29th of April at 31 17. We've been right to 30 point ninety nine the other day So it's kind of fulfilled that test of the upside the monthly chart is starting to break out So slowly but surely you're getting some stocks in areas that have been underperforming holding very well You spoke about the dollar, you know, we've been long the dollar since April of 2018 Look at this beautiful cup formation 1937 was the high in the 23rd of May. They came all the way down to 95 84 And if you look at this the number of bars on the left from the 23rd of May to the low that was made in the 25th of June in 95 84 we came within in the last two days. We've come within 17 cents of getting to that left side high So this is another one of those beautiful patterns. I just want to show this for a second always like to look at patterns He has the arch formation He has the cup formation and the straight line move up or down and and this is the combination So these are the patterns that we look at all the time and you can see that we've got these cup formations for me You've got even in the monthly chart a cup and handle So you were talking about the dollar their levels to watch you're talking you were talking about gold gold has been acting very well So I agree. This is going to be very important for the dollar It's achieved everything on this particular phase of the move that I looked at getting into the 98s Maybe now starts another consolidation I can just tell you that if it starts if the dollar starts to get to the 98 88 Area or higher is I think it's going to go quickly to pass So this is the way I'm looking at it But most importantly is that the dollar index in the monthly chart has come within 17 or 18 cents There's the monthly on the right of making that leg D that we're always looking for in the Chapman wave, right? So this is a very important period. I agree. Then there's a stock that we've had is the the broker dealer III it is an ETF the I shares a US broker dealer and securities ETF We've had it from 60. It's gone to 66 62 also another nice gain and I'm anticipating that it's going to be pulling back It's gone to a peak E in the Chapman wave and then weekly chart is still very strong and the monthly chart is just starting to break out So I suspect that the 6463 should be the support that we have to look for if there is a pullback in the market But this is a an area that I'm looking at favorably for 2019 going into the end of the year and Also, I spoke to you some time ago about a stock PLD, which is is a symbol Prologous, it's in the reeds in recent. It's an industrial reeds and it's also done very nicely for us We started a position at 75 it did 84 and now it's trading at 82 There's another one of those cup formations So there's there's a lot of resistance coming up so I am anticipating that if there's any chance for the market to not break out because there's some hesitancy and I suspect the Fed is going to I didn't see how they caught they aren't forced to say we're going to be looking at the data We'd like to lower the rates by a quarter percent And then we'll see because it really is kind of a mixed performance overseas is one thing But here in the United States a lot of the reports have been good enough for them not to really raise rates So I suspect There's going to be some kind of a pullback and it's how the market deals with it and that's going to be very important I said by this time tomorrow 330 What 24 hours was it 24 hours later? Let's see what happens But we're prepared. We still trying to keep our long positions, but we've got as kind of a Insurance policy. We've got a shorter short the Dow will see how that works out But as I say the core position, I think we're going higher in 2019 So I'm trying we got in on June the 3rd I just don't see how it's going to go back to the lows of June the 3rd unless there's really bad news So I'd like to keep that position and then add to it on the pullback Maybe switch from the shorts to the longs So that's kind of the plan and there's no doubt, you know as Bowser's talking folks This is pretty amazing, you know, we're at all-time highs and the Fed hasn't Brought rates down at all-time highs No, it's the first I went through the track. This is first. Yeah, never. Yeah, listen folks jump over to our website at TFNN You're going to feature content hit the opening call right here right now. You have a great one safe one We look forward to show tomorrow