 Mr. Maslow Basil Chapman as we do each and every Tuesday and don't forget folks Basil does an outstanding show here every trading day 10 to 11 Eastern Standard Time also is a great newsletter the opening call now It's very easy to get the opening call folks come over to our website at TFN You're gonna go right under newsletters to see the opening call on the left-hand side You just hit the opening call. You're gonna hit subscribe You can get Basil's great newsletter every trading day for hundred and forty nine dollars a month You can get it for six months or 695 which is the savings of a hundred and ninety nine dollars or 22 percent And you can get it for one year for eleven ninety five where you save five hundred ninety three dollars or thirty three percent now What you're also getting folks is this Basil has about ten webinars on there, okay? So you're gonna get all the webinars you're gonna get a great newsletter We get the Thanksgiving holiday you get four days that you can go through all of these webinars folks So check it out get a great education where you're sitting at home watching some football having some fun It's a beautiful thing Basil Chapman. What's going on? Well Thanksgiving is always one of those holidays. Then you're ready is a beautiful thing. That's for sure. It is man gobble gobble gobble I can't wait making stuff in gravy I'm looking forward to this and you know, I haven't been eating meat from us the year, but I'm gonna eat turkey But then I'm not gonna eat any more meat again, but I'm gonna eat turkey tomorrow folks. That's the bottom line That's good Okay, so what are we doing here? So what we're looking at is a rotational market We've seen these corrections a number of times for the last many years But certainly even over the last year where one sector is they had a huge move to the upside It tends to take a rest and another sector takes its place So what I'd say to subscribers is You remember I'd spoken to you about the high that was made in the down the 8th of November at 36,000 565 we had actually still started a short position about 40 points off the That all-time high on that day within an hour or so of the high and we've taken profits We're out of that and what we're looking at is In this rotation, we've seen that the Dow and the IWM the Russell 2000 have pulled back very sharply But the S&P and the QQQ index 100 are making all-time highs With in that context, I always say that the SMH is Semiconductors kind of go with the QQQ the index 100 and they really the the It's kind of the engine of that particular Sector of the tech sector so that most of the time you see the SMH is go to Mostly not always but most of the time you see them go to all-time highs either leading or just following off to the NBX and QQQ is making high and they pull back. So I suggest to subscribers Based on my work based on a whole bunch of techniques that I look at he has one that I'll just discuss This is pattern that I call I use trend lines and if it makes a little mini channel That's different to the to the larger channel a wide channel. This is a very narrow channel about three sixteenths of an inch Joining all the highs or it could be joining the lows and if the price gets close to that it often gets repelled and So my thinking was that on Friday Going into Monday that we would see some kind of a high in the SMH is in the QQQ That's the NBX 100. So we took we took short positions and we actually now have short positions based on Chapman methodology Not really just technicals because the technicals the 9p moving average is still above the 14 on my show And I'll do this again for those of you new to my work. I'll do it tomorrow in my show I'll discuss what I look at and you can see that on the left side the 5th of November higher 400 point 99 On the on the QQQ Look how strong the Magdi the moving average convergence Divergence was this bottom one. Yes is this stochastic the slow stochastic up in the 90 percent 95 percent area On balance volume was very good And the nine period moving average this little green line of the daily chart on the left was way above the 14 And I said As we're going towards these highs over the last two days Look the Magdi's coming down the stochastic's pulling back under 80 percent on balance volumes pulling back I have to be aware that the 9p moving average over the 14 is still a positive But every other part of the Chapman methodology from the hundred and twenty minute chart to to the little doji candle I called it a silent doji just before I turn in the market It's indicated that there could be some kind of a digestive phase and that's all I can call it because it's a Dairy chart week your charts are still very strong So that to me is a start and it said that what I said to subscribers is there's a chance that the down actually has a nice Ready, maybe even the Russell 2000 while they do that the S&P and the QQQ and perhaps The SMH as a semiconductors could have a bit of a pullback I always say a bit of a pullback as we don't know until you start to decisively break those key support levels Whether it's going to be deeper than just a small turn so far the pattern says who this is you were talking about a little earlier It's a little unusual to make an all-time high and then have a reversal like this So yesterday and then followed through with a red candle. So the day is young We've sort of 35 minutes anything can happen as you know, but I I suspected me in for this rotation So for our other positions on which is really quite interesting is we have some some Stocks and that are actually going to highs as we speak or all-time highs or close to recovery highs Yes, Bank of America. We still long from the 31 area. It's at 47 45. It hit 48 69 the other day and pullback We've got a number of other stocks as well. We've got let me just find the DBA I've often spoken to you about this is the this is the DB agricultural fund It has wheat that has corn has soybean and sugar. Look at this a new recovery high Not an all-time high that was up in the 30s But it said we're long from the 13 area and yet it is a 12.30 in leg E broke above this particular You remember I was just talking about that repellent zone this tiny little narrow channel How the price can so often get there and then reverse look how many times since the high back And I think it was may run about 19 Dollars and 30 cents look how it just a slightly rising Mini channel and look how the price got repelled. So these are techniques that I like to use I've discussed more and that's going to continue higher. I mean, you know, we spoke Yeah, I spoke ever spoke how many times have we spoken about inflation? I don't what I don't know what to fit looks at or any of any of these statistics with when they come to measure inflation, but Anything you go and buy it's just way higher than it was and I think it's going to I think it's gonna have a little bit of an impact on the general market at some point, but in the meantime This is what's telling us the DB agricultural fund DBA is the symbol. It's up 14 cents today at 20 point 30 making a new recovery high and And that just says to me that yeah, we've got to be a little careful. We've got to be very selective We are still long one of the ones that I've liked for some time TMO. This is thermo Fisher scientific medical equipment It's a 631 all-time high 651 just a week ago, but it's up near the highs I'm watching to see how these stocks react over the coming week But I suspect that we've got some kind of a rotation going on here and that part of that should involve Probably involve the QQQ and DX 100 and probably the semiconductor, you know, what's interesting And I like to look at round numbers. Look at this and video makes it all-time high He goes to 346 point 47 yesterday, but it had a 319 round number low applied materials Great semiconductor made it a hundred fifty nine point zero zero all-time high and now it's trading at 148 Very close isn't that interesting it is I like it You have a great one to say fun baths. We look forward to show tomorrow and have a great Thanksgiving Stay right there folks come right back