 Hi everyone Basel Chapman here on this Friday the 15th of September mid-month and for mid-month We've got a very interesting set of parameters to look at. You've got the oops I got this is the e-mini that I had y'all just show you the e-mini just real quickly. Oh, this is EES UZ 2 3 there it is making another one of those H patterns. Is it gonna break the low of the day? Oh, this is gonna be very interesting. All right. Let's just get right on with it Basel Chapman. I am the host of the Tiger Technicians Hour 10 o'clock to 11 o'clock Eastern time each day and my service here Is the opening call, dating newsletter. We're looking at the Dow right now down 260 at 34,647 Yesterday with that very strong move the Dow managed to flip from the nine period moving average being very negative To a green positive one and I've watched to see is it possible that today in one day It could flip to negative. Well, the day is young. We've still got almost an hour to go We don't know yet if that's going to be the case But let me show you something right here. This will be this will set the stage for what we're looking at this week going into next week See this chart all it does is has This is a closing price chart of the Dow. That's a big thick line The green is the nine period exponential moving average and the 14 period moving average is the black idle webinar on this Just recently in august What we're looking at in terms of When it stays green, that's really positive when it goes pink That's that's negative. But look what happened yesterday with that very strong move It went to L which means just this indicator not everything means long That's the upside But in today just minutes ago It started to go s it started to show that s again now That says to me if you look at this particular chart just for this one indicator Look what happened way back in april going to the may Trading session look right here april the 26th to april the 27th it went pink in the qqq It did not change to to Pink after it's flipped the next day to green until right here On the 7th of august it means months you could go just trading this one indicator now I wouldn't recommend using just one indicator, but it's it's one of many that I use I call it the indicator of last resort And um, I'll explain why as we move along. So let's just go through the numbers here So the dowel is in an arch. This is a pattern that I look at all the time. I look at arches I'll just do this real quickly. People know this who've know my work, but I'll just show this right now I've got it right here if I can move that away. Here we go I look at core patterns. One is a straight line up The other is a straight line down the other is a cup formation and an arch formation just these three particular movements Formations are very important. You'll see that all the time. Look, there's the arch formation There was a little mini cup formation that failed There is another arch formation. It held the low that uh, right here at 34 2022 Then it made a second arch formation to the lowercase h I call it the dreaded h because when it takes out this left side low as it did over there It can go a lot lower. Well, look at this when it goes to a peak a or a b and then fails That's the higher highs peak a is the first peak. We would be the same and then takes out this left side You've got to be really careful But if it holds and then it rallies again It could make an arch formation then there are a whole bunch of rules that go But basically the arch formation says you kind of stuck in a rectangle sideways move. Well, lo and behold. Look what we did arch formation Rally's comes back in you can see the s the days. Yeah, I can tell you between I've seen the last minute Where things change and you can get this s just disappearing And you can have a really good rally at the end of the day. So it's a datey bar We can only talk about it at four o'clock when the bar concludes. So the downright now and down 260 Yesterday it was up 305 and now it's giving back a chunk. It's had a made a lower low But look, I use these indicates the magnies. Okay The stochastic is weak at 61 percent this blue line the unbalanced volume Which is the this is the one of the key indicators that gave us the cell signal right here at the exact High of august 1st at 35679 and we still remain short on the shorter term Because I have to emphasize in all these charts. Look the weekly charts have not given any signals They're still in by modes monthly charts. We don't have to talk about that until the month's finished. Look at the s and p S and p right here. Where did I type that? Let me just find where I typed There we go sp x there we are look at that The s and p sharp move down on the 50 period exponential moving average that pink that green 9-period moving average hasn't flipped to negative yet But it looks like it wants to and let's go to the s and p here. We'll go to this chart That's all just got those three lines easiest indicator. You could use look there it is s and p Green but the price is coming down yet again And it's getting closer and closer, but it has not turned negative I I can assure you that we I'm only watching this closely because by the end of the session. Let's see if the dow That indicator has moved. No, it's still s That means it's still in the cell uh cell signal on the one indicator. All right. Here we go We're getting back to our story. We got the so the parameters. I'm looking at for next week if I don't care what the reason is if there was a spike That can take the s and p to the 45 Uh somewhere in here will be the first step. So about 45 22 area That'll be really good action. That'll really help the weekly chart But if for any reason come tuesday or wednesday, we sort of start looking at 4400 That's not very good. All right, so here we go each one I'll do the same thing here the q q q is the index 100 and this this technique here I'll just do this one very quickly just to show you because we're always having new people looking at the Uh coming to tf and answer. Let me just show you I have a pattern that I call The falling axis. That's just a nice simple way of looking at something that is really a declining expanding Co-information what happens is price goes to a p d e o f. That's the fourth or fifth highest peak Then it starts to pull back and it makes a lower highs and much lower lows there and then all of a sudden It's it forms some kind of support and a source to rally. Well, this trend line right here. There's doubt the the upper trend line Declining trend line that is if that's taken out you could have a move that goes one to one expansion to the upside But you're gonna go one thing at a time So what I've learned to do over the years is within this upper trend line I draw a tiny little channel and it's incredible how many times the price goes right to the edge And then pulls back. It does not break out. That's what you see in the qqq and as I said before there's some h's Already helping to pull back. I'll be back Bells of Chapman sitting in for the one I already told my body. I'll be back on Monday