 The following is a presentation of TFNN. The TFNN Bull Bear Trading Hour. Every trading day, live at 10 a.m. Eastern. Call now, toll free at 877-927-6648 or internationally at 727-873-7618. The TFNN Bull Bear Trading Hour. Now, Tommy and Tommy O'Brien. Good Monday morning, everybody. I'm Tommy O'Brien. Join this morning by our man, Basil Chapman, feeling it for Tom. Basil, good Monday morning. Good morning to you. How are you? I'm doing fantastic, man. How about yourself? Very good. That is an absolutely spectacular weather-wise weekend. We deserve that. Nice. We're having a little bit of rain. We got a little bit of rain yesterday. Maybe not as much rain as they forecast, but this morning, a little rainy today, but that's all right. We'll take it. We need some of that moisture from all that heat that we get drying up, so that works as well occasionally. And it cools things off a little bit for us in Florida, too. I had a question for you. What are you looking for this very first full week of the July month? Yeah, there's a lot going on, right? I mean, headline-wise, the big one out there, Deutsche Bank, not really the big one, but getting talked about a lot for sure. Quite a restructuring. They're dealing with some woes. And just to pull up the chart as we talk about it, Deutsche really struggling. So we have the market to surmise it. Dow down about 108 right now. S&P's off about 13. NASDAQ off about 67. We'll jump over to Apple in a moment as they are getting hit in a downgrade this morning. But Deutsche down about 6.8% and putting that on a daily, it is a rough one down there in that restructuring. The market really not liking it. And Apple. You know, these tech stocks, Basil, it's interesting this NASDAQ. Apple down 2.6% putting this on a five-minute. Let it low. But quite an acceleration right off the opening bell with Apple getting hit and some of the suppliers as well getting hit on that downgrade that they may see some slowing woes in their iPhone sales. And so I wonder how that hits the market in terms of those technology stocks. And then of course we have Jerome Powell speaking to Congress this week as well, which should be interesting to see what he has to say. As the market, it seems like kind of factoring in the jobs number that we had on Friday still, digesting that and how that's going to play for the July 31st Fed. So I think if you can figure that out, you can figure out the market. And so it'll be interesting to see what Powell has to say this week as he goes to Congress. So let me just show you something. I showed this to my subscribers over the weekend to my opening call subscribers. I almost always show this on weekends. It's coming up right now. And this is what I call the triple yield weekly chart. It is essentially the 30 year. Let me just get it right here. There it is. So this, I'll make it bigger. So you see we're looking at the one chart and then all the others in the middle. Okay. And this is a weekly chart. And really what I've been saying for quite some time is, in fact, let me open this up and you will see something very interesting. Look at this. The white is the, this is a TYX, the 30 year T bond yield right there. It's a weekly chart. The brown is the TNX. That is the 10 year yield. That's the TNOTE yield. So it's a T bond yield, TNOTE yield, and the five year TNOTE yield, the F of VX, the cyan one. 30, 10, and five. Perfect. Right. And what's really interesting, I'll take this line right here, this horizontal purple line. And you can see we've been here many times before. Look how many times we've been here. Look, there's the clothes on. Well, it can go right to today. It's current. And we've been here. The white chart, it says, you go back to 2000, the whole October, May, October period of 2016. Yeah, we're back near the election of 16, right? So I think that it's really important to keep in mind that it is the markets interpretation of what they think Powell will do, or let's say the Fed, not just Powell, but it's the Fed. And if you look at it, if you do the MRI of the patient, if you look at the X-ray of the patient, we've been here. So it's really the market is, when the market is a little vulnerable, which is what I was telling subscribers, to an opening call, I said, be careful. Last week, I said, we're getting real close to what I call in Chapman Wave methodology, peak D or F. This is the fourth or fifth highest peaks from a buy signal at the bottom. And this is where you expect that there could be some digestive phase. So none of this is a surprise. If you look at the chart formation, about two weeks ago, I said, I'm anticipating that bond yields are going to have a bit of a bounce. I think it's still a bounce. I still think that the big picture has us in what I had called 20 years or so or more. The Japanization of our bond yields, meaning they'll go down to almost zero. That's what we've been doing for the last number of years. And so nothing really has changed. It's just that the market was a little vulnerable right now. So you can talk about what will the Fed do? But if you look at it, the Fed, I mean, the Fed is kind of stuck. You're right here in the middle. Actually, they're not stuck. They don't have to do anything. That's what I meant. The market might just take care of the little bumps and grinds. What will happen is, if at some point you really get inflation, in other words, yields start to scream the 30-0, which is trading at 2.5 right now, starts to go up 3.455 that was higher in November of 2018, then, I think, and if you look at wheat and corn and soybeans, if they really start to push much higher and crude oil, then you're talking about the genies out the box and inflation will rear its ugly head. And when it does it, it does it really quickly. But we're not there right now. So I just think this is normal market conditions. Find something to be afraid of. And there it is. But if you're really looking at the overall market, we've had a really good run. You just need a bit of a time out. We've been long since June 3, the latest long position we've had in the Dow. Took a little profit on Friday. I said at the opening, I said, just take something off. We're getting close to a peak D. Hey, I don't see anything too different right now. When you talk about Apple, well, if you look at the whole XLK, that is the S&P Tech Spider Fund, it has gone to that leg D. Let me just put that in. I forgot to do that over the weekend. Put it in C. And D said it's ready for a bit of a breather. But look at the spectacular move. It's gone to a new all-time high. This is now leg C in the weekly. I mean, we're talking about in the 57 area back in December and now trading 22 points higher. You would expect that there's some kind of a breather. So I'm just trying to put it into the perspective of what I'm looking at and saying, nothing is too unusual right now. We've had a fabulous move up. Get a bit of a digestive phase. And it's interesting. We get CPI data, I believe, on Thursday at 8.30 in the morning as that inflation. So I'm going to get Powell. Is it Tuesday and Wednesday? At least it's Wednesday. I believe he's speaking to the Senate on one day. This is a biannual that he goes before Congress and maybe the House one day. So you get that. You get the CPI data on Thursday. And I assume that all that's going to play into what he's going to do. But I agree. I mean, the run's been spectacular. We're almost, we're not almost. We're basically at highs. At highs? Yeah, all-time highs. Yeah, not even basically. We're at all-time highs across the board. And it's pretty remarkable. I mean, Apple, before they pulled back, they think they were up at almost a $950 billion company battle right up. I think that their price tag for a trillion, excuse me, a trillion, yeah, $950 billion is somewhere around 207. So they just pulled back. I think they were at about 203 to start trading. And if you look at the chart, 233 was the high back in 2018. Yep. And then it drops very sharply. It goes to 170. But it rallies back to 205 just Friday. And now it's showing at 199. If you look at the chart, it says Apple's a mature company. It isn't the kind of growth stock that it used to be, but it's really a very solid, good company. I mean, I completely agree. I was just going to say it's amazing for how stable of a company they are, that run that they had from the high of 230, the low of Christmas Eve, to the highs that we just made on Friday. Folks, Basil and I will be right back. Come on back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The Taz Profile Scanner instantly scans and filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. 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You know, if you even look at a 38% retracement, you're talking about $192, more than $7 from where we're trading at right now. And that's just from June, let alone how crazy this chart looks if you pull it back to that low of January 3rd at $142. So, pretty reasonable. A round number, $142. You like those round numbers. I love those round numbers. The fundamental aspect of Apple is always interesting. I'm a huge Apple fan myself. I have an 8 Plus in terms of an iPhone. Had it for about a year and a half. My home button, ironically enough, is having some problems right now, so I got to get it fixed. But you can see how the cycle of needing these phones is so much less in terms of how often you need them. The technology is just not really differentiating itself as they used to in those two year cycles. So it comes down to whether they can maybe transfer that revenue model to recurring revenue, cloud, and et cetera. And that downgrade this morning was saying, that might not be as easy as you think and those iPhone sales are going to continue to struggle. So we'll see how that hits that point. It's interesting you say that because when I saw that sign flash by when I was over at the fitness center this morning, I thought to myself, that's interesting because there must be a lot of people like myself who just do basic functions on their cell phone all the time, but it's the same thing over and over and over. I think it's terribly complicated, but it's just you need it, but you only need it for certain things. Right. Email is great to have, right? I mean, the basics, yeah. Internet when you need to hit it up. The few apps that you might like, maybe use something for your fitness, right? Maybe you have a step tracker, a fitness tracker. Guess what? I mean, a new phone isn't going to make that fitness tracker much better. They're making advances and they might have, you know, the new watches, the new eye watches have heart rate, right? They can talk. So there's ways, but I agree that on the most... That is more part of the legacy. That's more part of the... How can we put it? It is the the function of getting some residual every month so that there's some income coming in. And that's going to be really important. So I like to look at Apple now more. And I've been saying this maybe for about two years. I said, look at Apple, not so much as a growth company in the old fashioned sense when Jobs was around, that there was just a new innovation coming in that was so stupendous that people would line up for blocks and blocks to get. It isn't like that anymore, but what they will probably do is try to get that income stream that comes in month by month and then the healthcare, I think that's going to be huge for Apple. But that's what I mean by... I talk about Apple as if it's like the General Motors of the 1920s. It'll be around probably for a long time. It is a well-structured sophisticated company and they need to innovate in ways of getting the pie bigger every month. Like Apple TV, right? Exactly. Opening up content for the people that they already have and monetizing that. It needs to kick in and it needs to be a desired product. It's tough, man. I agree with everything you're saying, but it's so tough. You saw the reaction to when they announced that Apple TV, right? They had stars. They had Steven Spielberg saying he's going to direct movies for them and that was not enough because the amount of money that you have to spend to compete with the likes of Netflix or was it $6, $7 a month Disney is going to be taking in for all of their items that they offer. I agree with the health aspect. I do not own an iWatch. I've thought about getting one, mostly for the fact of that kind of health tracking type deal. They could have a lot of potential there if they were able to get their products monitoring people in that health aspect and then somehow capitalize on that. But as a fan, I just don't see a ton of phones on the regular from them anymore. I love my A+. It's great. It's perfect. I really don't need another one. I just need it to keep working properly. Maybe it has some battery problems, et cetera, but I don't need to go out and spend $800 or $1,000 every two years anymore for that upgraded technology. That's what you see in the chart. The chart is saying that a fabulous move, a little too much in too short a period of time, probably I wouldn't be surprised if it just stays in this for a little while before before they trigger some kind of real affection for a new Apple product. That's really important. The PE reflects that. The PE is sitting at about 16.7 so nothing too outlandish for a company that still likes to talk about that they don't talk about it but that maybe they're going to get into the car business, right? I don't know. Maybe so there's some things that could have some growth in there that probably should be factored in down the line. That's kind of what you see. Look at Netflix. If I go to the chart of Netflix, did I hit the wrong bar? Netflix hasn't made a new all-time high 423 was the high back in June of last year. It takes a dive down to I think it was at 237. Let me just double check. No, no, it was higher. 231. So it goes down to 231. Let's face it, 423 to 231 for one of your leading fang stocks. That's a big hit. For a company everybody loves, right? You don't really hear a lot of negative talk about it. So it's come back very strongly and it's gone to the most recent high. Peaked in the weekly chart of 385.99 just missed by a penny a round number and it goes to the 330s. And now it's back to 377. It's acting very well but it isn't a leader. In other words, the fang stocks themselves Amazon is probably the one that's the closest to its all-time high and there's a good reason for that because they're still innovating. The patents actually are very much the same except that Amazon's in a V-shaped patent is a stronger patent than the others. But they've been in a, what is it? You know, this is July. What an eight, nine months consolidation. I think that it's telling us that there's been new leadership in this last rally and that there's a chance that the fang stocks will be back but I think it's a little later in the year than they really kick in. But at this point I think they're digesting massive gains and it's taken quite a while. Yeah, Amazon sitting, I just pulled it up which doesn't actually seem that bad for a company like Amazon which so much growth down the line. I mean they're just building out it feels like their own delivery system. They're going to have flying vehicles dropping off packages at your house basil in no time. I'm wondering about that because when you get into it they've already put here in Newton, Massachusetts in the Garden City they've put in restrictions for noise. And those drones can be really annoying. Sure, they're little flies flying around everywhere, right? So I don't think it's going to be quite as soon and quite as easy as in some places maybe it'll work but I think in the rural areas maybe in the city I can't see it at all. I think what you'll see ahead of that is driverless and I don't even want to call them vehicles those little pods that they've shown I'd say that's the first step but I agree when you start talking about it I joke with friends sometimes my phone can't even work for an autocomplete for a word that's very basic and somehow we're going to have self-driving cars in a few years. We've got a few years. Basil, I'll be right back folks come on back with us. Pike folks, Tom O'Brien here. If you'd like to get my daily newsletter of market insights then now is a great time to sign up for a 30-day free trial. Every morning by 9.30 I send out a market commentary on a variety of markets currencies and commodities to keep investors up to date on the day's trading action. Included in market insights are specific buy and sell recommendations for stocks, ETFs and even options which stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter risk-free for 30 days then head over to the front page of TFNN and you'll find market insights under Trading Newsletters. I use my years of trading experience to bisect and dissect the market every morning and my subscribers the most important information they need to know for the day ahead. I even issue afternoon updates for my subscribers whenever warranted with important market action. I'm always scouring the market for the next great trading opportunity. 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And again, just kind of going to the trend where quite a run on all markets since like that beginning of June, whether it's late May and gold, but kind of took off in the beginning of June as well. And when you start looking, the run has just been so dramatic. We went from about 1270 in gold at that time, all the way up to above 1440. You kind of have a double top, which is a little bit worrisome here if you're a bull, but that hasn't even really reached back. I mean, 1377 would be a 38% retracement. You're kind of sitting at about 23%, and that is just from that run of 1270. And what are you looking at, Basel? I'm interested with the peaks with just how volatile really gold has been trading recently on the up and the down. So there are a couple of things that's going on as far as I'm concerned with the gold. And the buying, one never really knows exactly what it is, but it seems to me that it fits very nicely. If you think of it as a fear trade, in other words, the whole geopolitical scene kind of exacerbates, gets kind of worse than it kind of cools down. But I, because silver should have been, if the two were going together as a metals play, silver wouldn't be as weak as it is, and really is weak, if you look at that monthly. So my suspicion is, it's so interesting. I decided about, maybe it's four months, maybe it's about four months ago, it might be more time flies when you're having fun so much. Maybe it was four months ago. I said, no, it was actually a little bit more. And I remember thinking, wait a minute, I'm getting such unusual action with the dollar being strong and gold sometimes being strong. I have the theory that you can go back and look at historically what happens. Every year, maybe two to three weeks, a few times a year, gold and the dollar, instead of moving in counterpoint, meaning they're going in opposite directions, not the same percentage, but just direction-wise, they go together. And it's just an aberration. It's the way cycles work. It's nothing, I don't think it's more than that. But my belief has been over the past, I really think maybe it's about six months, that gold is one thing. The dollar represents something else and yields represent something else. They come together every once because cycles can overlap. But if you think of it this way, the dollar, to my mind, is representing the US economy and it is the currency of strength because this is the economy of strength. So I've made it as simple as possible. One of the reasons why, for subscribers, we've been long since April of 2018, back in 90, and we remain long because even last week was a bit of a surprise for the dollar. Even last week, the dollar ran right up to a channel. Now, you asked about gold, but I'm trying to put them into perspective. It ran right up to channel resistance at 97.44. This is the dollar index, not the futures, but they travel in the same direction. So it's in leg C and it should make a leg D and that should break above the resistance line. And if I squeeze the one, first of all, if you look at the monthly on the right, so it's the daily chart on the left, the middle is the weekly, I'll just squeeze it a little bit to make it so you can see it more in context. You can see that cup formation, I always like to look at cup formations. He has a second one. So last week's strength was a very pleasant surprise to me and I really thought that the sharpness could continue a little bit, especially when gold had a couple of good pops. Now, this is going to be interesting. If you look at the monthly chart of the dollar, it's held the black line, the 14-period moving average, it's held the green line, the 9-period moving average, the MACD is good, the stochastic is at 86% and that's very good. So now, the reason why I'm saying to you, I'm trying to separate and give my reasoning. So this is now an economic, geopolitical, American icon, and of course yesterday we won the soccer, so it kind of fits in nicely with that. So this says to me, the dollar is still holding very well. I would prefer if a source to make MACD goes into the 9850, 99 area in July because that will clear it up for me. It'll say dollar really is acting well. Now let's go to gold. Gold, and for many people, the gold bulls, the actual move up four weeks ago, that big strong signal, the right there that broke out of the resistance, the resistance in the continuous contract of 1361 back in the week of the 22nd of February, we went right through that. Now in the traveling methodology, if this is what I call a cup and ladle breakout in gold and the MACD in the weekly chart is so strong as stochastic is at 81%, not great, but it's good. This says it should go to a leg C and a leg D. That takes it way into the 1450s, 1460s actually. So let's go one step at a time. This pattern that I put a rectangle in, oh, quite a, quite a, as we're making that peak F, I said I think we're going to be trading in this range because it's a pattern that's very familiar. It's like a, in classical terms of technical analysis, it's like a flagpole and yes, the flag, it's a rectangle flag. Now let me show you something just pattern-wise. Look at this. If I take you to the bonds, this is the TLT. Look at this pattern. It's the same thing. That was a peak D. Look how long we've lasted in this rectangle formation. So my point here is that rectangle formations can last a lot longer than your patients. They can go sideways. If you don't get, especially at a peak F in the Chapman wave, if you don't get an immediate breakdown under these key moving averages with the MACD turning down sharply negative, with stochastic probably going out to 66 billion, should be at 40 something. It says that he's buying. It doesn't mean say buying enough to break out, but it says buying enough to hold. So I'm looking at this and I think if patterns repeat, this sideways consolidation with another pup to the upside just about 14, 42, 90, I'm expecting something like that. And it's saying that gold for whatever reason, and my reasoning actually is that it's part of this whole geopolitical fear process. Gold is historically a currency of fear. And that's part of it. But this time is a little different in that if you look at the, if we go to something like the GLD, which is the gold index which follows, it maps out the same as gold because it trades at a tenth of the price. That's a little different to if you go to the XAU. And the XAU, look at this. The XAU, oh, I didn't know, I thought I'd notate this. I guess I lost the notation. Has the same move, but this time you've got gold stocks and the gold contract moving in unison. And that's the reason why I think we've got a high level consolidation. This is good action, but I do think that the dollar at some point a little later this summer will break to the upside. And that's when I think gold has a deeper correction. But as a move to explain it, technically the way I've done it now, that's the only way I can really explain it and say this time is a little different the reason why it's holding is other times either the gold, like the HUI, the gold stocks themselves were moving up higher. Oh, I meant to go to the GDX. I know all those symbols and all of a sudden I lost the track. It's a GDX. Look, the GDX did break out in unison. That's a good sign. Yeah, I mean, what I always look at that too is just as interest rates are plummeting, man. You know, you're talking about a 10% two-year. We'll pull it up. I mean, I just took a look. If you just take your $1,400 as opposed to an ounce of gold, what do you have in 10 years at that 2% versus maybe you hold that gold? We'll be right back. If you're in the CD market and looking for a secure investment, the Tiger First Mortgage Program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from $30,000 to $75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1,550 per year, or $6,200 over the four-year period. 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The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Four Side Fund Services, LLC. TIGER TV for the latest market information. I'm sure you've noticed that the 10-year is trading at right now for a yield at least, and you're looking at about $1,700. So the decision you make is that what's the more profitable scenario in the long run of taking that $1,400 and investing it in a 10-year or taking that $1,400 and putting it in gold, and there's many other options. But people, some of those you're making that comparison, they're all intertwined. And I like that probability when you get down at 2%, and you have gold of 1,400. You're sitting back on a long-term chart of gold. You know, that high back there, it's amazing. It's all the way back in 2011 now. At 1923, you're sitting at 1399, 1,400 on the dot as we speak. And 10 years in the future, do I think gold could be sitting at 1,700? Yeah, I think there's a pretty realistic situation. The gold is 1,700 or much higher. So just to emphasize that what you're really saying is that gold has no income. So it has to be the capital gain. Oh, right. Yes. And you're trading off potential capital, we don't know, since potential capital gain. For sure. To a guaranteed income. And I believe, now I can just do things anecdotally when it comes to something like people that I know that I play tennis with. So let's just say there are a lot of people at the courts who play that I play with in my range. So let's call it between the ages of the 56s, maybe even 70s. Money in the market, I'm sure, right? Whether they're retired, semi-retired. And a lot of these people have been in the market almost all their lives, all their adult lives. They've had something in the market. There are still a lot that since the shakeup of 2008, 2009, that either tiptoed back in or the ones who were lucky enough not to be, didn't know what to do just held and say, you know, we think maybe in the market we're coming back, but boy, we're terrified. They've been fortunate because the market not only has come back, but it's come back even stronger. But the ones who got out, and there are a lot of people that I've spoken to over the years who didn't get out, at least a chunk of money of which they've not put back a chunk of money. They've put back much less. Now, we're talking about something very different. Now, I look at you and I say to you, all right, Tommy, what was that you just said? You said in 10 years it can get from the 14th to the 17th or you could put it in gold. Do you think that they're going to take a risk and put it into gold? I don't think so. Maybe not at 2%, but I think if the rates continue to get cut, that, you know, 1.5%, 1.75%, that's I think what may have picked up on that run from the beginning of June. So now it brings me exactly to the point that I wanted to make out. I'm pleased you said that. Because let me just go to the TLT. I always have to remember what I typed in here. What was it called? It's called, I've got it right here on the left. It says, oh, TINA. An expression I heard a couple of months ago. I thought, what is TINA? And then someone said, oh, yeah, TINA. And the low rates are forcing TINA. I said, what's TINA? There is no alternative. So now we get to a picture that says, I think there are a lot, and I don't mean a lot, meaning just amongst people I know, but from what I've read, from what I listened to, from the ads that I hear of so many investments. There are so many dinners for free to come to an investment seminar. There's a growth of that. So I'm looking at this and thinking to myself, okay, I've seen this scenario before. When does it happen? It happens as the market's starting to improve and you've had a lot of volatility. Then you can say, oh, with all this volatility, imagine, you know, what happens if we go into another 50% decline so that the fear is out there. So now the reality is, I think a lot of people have been forced to go back into the market because there really is no alternative. But at the same time, they've got like one foot in and one foot out the door. They're really not that sure. So when you bring up maybe something like a 10-year with a guaranteed very small, but at least it's a dividend that you're getting or the risk of gold, my thinking here is that I would not be surprised if we've got a split. This could be where majority of older investors for the first time that they can ever recall have a foot in many doors. And that would be smart in my book. That's kind of the approach I would take, which is probably why I ran through that example in saying, yeah, you could have both, right? Because that is giving you one affixed and the alternative of capital appreciation. Yeah, because do I see gold at $1,000 in 10 years? No, I don't. I don't know what would happen for the amount of people in the world to grow over that time, right? The economy to grow to inflation to come up, yeah, right? And so as opposed to, and just like you're saying, you see the market that is so high right now. Could you get a pullback over three, four years? Yes, you better acknowledge that that's possible. Do I think it's going to happen? No, not for three or four years, but you better pull up a long-term chart of the S&P if you don't think at the highs that we're at and the run we just had that we could see that and then you could take a year or two to get back to that level or something. So diversifying yourself away from the market and still having a foot in all those doors would probably be pretty profitable. That would be my take on things. I mean, it really would with the run that we've had. And especially I've brought it up before, we're coming into an election. That's going to be rough no matter who you are, what you believe. And so the market might be a little bit worried at the highs that we're at in terms of how that will affect things over the next 12 to 16 months until we figure out who wins in 2020. On top of everything else we have going on with the Fed and so forth. So here's the other thing. Have a look at this chart. This is the S&P. Where was it? When did Trump come in? It was November the 9th, 2000 and the election was in 16. So right there. That's the way of the right side, yeah. There it is. So right there, okay. And that yellow oval that was chop, chop, chop for many months. Sure. So you go from 1810, that's 18, $1,810. I didn't want to talk about the year 1810 when I think just before Chopin was born. This is 18, Napoleon was invading different countries. 1810 is the price of February of 2016 was the low. So that, so wait a minute, the election, so the election was in November. No, no, it must have been, wait a minute. Why is this? Where are you looking? November of 16th. So it's right after, there's a red bar in there. I can even pull it if you like. Yeah, that's this little red bar. Yes. So what you're looking at is that the low of the SMP was in February at 1810. Sure, yes. But then you get the elections, and ever since then, so let's talk about the elections, you've gone from 2192 to 2974. Isn't that interesting? And it's especially interesting, I think, after the run that it had preceding that, right? From like the lows of 2010. The Obama run, absolutely. Look at this spectacular run. There's that pause you circled, there's that pause and a huge upward trend. We'll be right back to finish this conversation, folks. I'm certain you are, or strive to be, one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability, and for the last 12 months, Timer Digest has been tracking my newsletter signals to earn me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6, and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is, markets can be timed, and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and getting immediate access to workshops where I take you step by step to use an extraordinary set of tools as well as provide great market calls too. Sign up today. It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002 when gold was trading at under $300 per ounce. Gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices, gold may be poised for its next big run. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, South African Rand as well as 25 different mining equities with specific buy-sell recommendations. As of April 1st of this year, the gold report currently has 8 active positions with an average unrealized profit of almost 8% for each open trade. New subscribers get a 30-day money-back guarantee so you have nothing to risk for all the details of the start-year gold report subscription today. Visit the front page of TFNN.com. Don't let gold's next big run pass you by. Sign up today. Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion. While originally hand-drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman Wave sequence. Using the Chapman Wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now, you can get a two-week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two-week free trial to Basil's newsletter of the opening call today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. 140 S&Ps, negative by 17 Nasdaq, negative by 71. And Basil, just finishing that up, I always like checking out the Fibonacci retracements and just kind of where they fall. And man, if you ever go from the low of 2009 up to the run that we had of about 3,000. So you're going from about 665 in the S&Ps to basically 3,000, a 38% retracement, which on a lot of things could be a healthy retracement is 2,100. So you're talking about 800 S&P points, 860 S&P points. 100, they're December long. Oh, yes, for sure, right, exactly, which is remarkable. And then, you know, if you just go off the lows that we had in like 2015, so a much more reasonable, smaller time frame, which I don't think would be too right because you really never got a pause. You got about a pause for a year, maybe maybe two, that consolidation. But you never really had a pullback. You just had kind of had a consolidation. Still a 38% retracement in the 2,500, 2,531, 2,539. So you're talking about a solid 400, practically S&P points that you could pull back. Very good points. And the other thing I just wanted to say is look, in the Obama administration, look what you did. So 666 to 2,134 is what you were talking about. But I always like to say you have to, you have to, in the stock market, you've got to put your politics aside. You've just got to look at the market and say, what is happening? That's why I said, look at the chart of the yields. We've been here before, put the whole story aside, and just say, we've been here before and we've recovered, we've done it very nicely. So the only other thing I want to say is that this is still only, and not the Dow, but in the S&P this is still only leg A to the upside if it's an A. Leg A. Watch out. And since December low, yeah. Watch out. So you're ready for some kind of a pullback. Perfect. Well, Basil, you got a lot to talk about in your new Tiger Technicians Hour program, man. We just, that was the beginning of the fun. I appreciate you feeling it as always, Basil. Folks, stay tuned, live programming all day, and check out that opening call of Basil on the front page of TFNN. Have a great Monday. Thank you, Tommy. Thank you, Basil.