 Let's get over to our man Mr. Basil Chapman as we do each and every Tuesday at 20 past the hour. And don't forget folks, Bazaars are an outstanding show here every trading day, 10 to 11 Eastern Santa time, also has a great newsletter, the opening call. Now it's very easy to get the opening call folks, come over to our website at TFNN, you're going to see it right under featured content, the opening call. You just hit that subscribe button, you can get the opening call for one month for $149. You can get it for six months for $695 which is a savings of $199 or 22% and you can get it for one year for $1195 which is a savings of $593 or 33%. Now they all come folks with a 30 day money back guarantee. As soon as you subscribe, bottom line you're going to get all of Basil's archives, he's got 10 to 12 webinars out there that are phenomenal to understand how this market moves each and every day. So Chapman, what's going on? Hi Tom, how are you doing there? I'm doing great yourself. Very good, thank you. So this is going to be quite a week here man. You know what's interesting, here we are, if you listen to the news, just every hour of the day there's something really negative. Just look at this chart here, it's not incredibly bullish but it's not very bearish when you think about all the news with Walmart, normally under other circumstances at other times over the decades, Walmart drops like it did, that would just be devastating. So I'm kind of impressed with the, not necessarily the ruggedness but with the rolling corrections throughout each sector so that there's always something that's helping the market. In this case the Dow is down 231 points, made a high just three days ago, 32,219. This left side chart with the data just gives an incredible amount of information. The MACD is good, the MACD that's moving average conversions to divergence, the stochastic is at 89%, that's really nice, on balance one is very disappointing, that's the one area and I do respect the on balance one because it isn't running sharply with the price but it does mean that if there is a break to the over the 32,220 area to start a leg D any time this week, there's a chance that we'll have to wait for the on balance volume to become oversold just as it did when it went to a high back on the 27th of May as the Dow was making that cluster formation top and then it pulled back very sharply. So I'm kind of impressed and we are still at both the dollar and the Dow I should say and at the same time holding this particular chapwave inside track, it was a repellent zone, you can see how many times it's been repelled from that area, now it's holding it, it's above it, so it's really important over the next couple of days they really start to test the 32,000 on the way up. So that to me is important, I don't want to see a break below 31,500 that will actually be very negative. So yes it does trend a lot on the results, of course we've got just tons of earnings coming out, stocks coming out with the earnings this week. So we'll see what happens but most importantly if we can survive in the weekly chart that's the one in the middle, if we can survive this week by Friday at least having one pop to the 32,250s, doesn't have to close it just has to get there because you can see the MACD in the weekly chart, this is the first time since way back at that peak D back in October, November of last year that the moving average convergence divergence histogram that's the 0% line is about to turn positive, it's really close hasn't done it yet but if it does turn positive it gives some strength rather than deflecting lower like it's done almost every other time, so this is going to be an important moment and the stochastic is improving it's not great at 32% and the weekly chart on balance volume is really poor and of course we'll have to wait until Friday at the close at 4 o'clock to see what the monthly chart looks like but so far it's holding well and I keep saying to you that there's been economists talk about recession but actually if you look at every single chart you can go to the semiconductor index you can go to let me just do the semiconductor index you can go from the double top of 318 from November then retested it exactly within pennies the week of the 7th of January and then it came down that's a recession 318 down to 189 if you look at the RTH that's the retail index it went from 200 down to 140 to me that's a recession so for the for the economists to give some kind of title to this whole thing saying there's a it's a recession well you've had a lot more than two quarters of very weak earnings look at even Sintas which I always look at as an economic barometer I went from 461 back in December down to the 340s and that was in June in a way you have to consider that as part of recession but when you look at the monthly chart hey for overalls uniform rentals really not bad 461 down to the 340s and now it's trading at 396 so there's a really mixed market and you can make of it whatever you want but I think that we've raised a lot of cash over the last months we started to put that to work and I think that what we're looking at here is that they're going to be survivors in this particular phase going into August and they're going to be some very weak stocks and the weak stocks like a target and a warm lot pertain to the over buying of goods and there's just a glut of those and I think that we're looking at certain areas that are starting to show some improvement and I like that and we try to find those we've done quite nicely in the in the shorter term and I hope we can keep doing that we have actually just got into date into an oil and gas stock if you look at natural gas just look at this natural gas goes from a 915 the continuous contract back in June at a peak D in the Chapman wave cascade down to the low fives and today it hit for a 9441 so there are areas that are that are working and I think that that's really what you're going to be doing here you got to be very specific got to have cash ready for the next many weeks you're going to have opportunities sudden sell-offs and stocks that you've been wanting for a long time and they got away I think they're going to be coming in and I think it's a rotational market and as I said it's been a rotational recession through the different sectors and if they want the full title forget it in the next week or two but usually what happens when the economy says recession that's usually when you start to find some kind of a bottoming process but we'll see what happens are we being very specific we actually went into a financial the other day one of the in the financial sector the XLF is holding quite well not great but quite well but certain stocks within that are doing okay and I think that's what we're doing we just being very selective for subscribers to my opening call and making fairly tight stops and so far it's worked out quite well and folks it's very easy to get Bowser's newsletter so just come over to our website at TfN you're gonna see it right on the featured content you just hit that subscribe button and you are off to the races you have a great night safe night and of course we're gonna have some action after the close we got Microsoft we got Google coming out plus other ones but those two no doubt it's gonna be driving the NASDAQ very important yes thank you Tom thanks so much have a great one Basil have a safe one we look forward to show in the morning yes thank you