 I'm Amis the Basel Chapman as we do each and every Tuesday and don't forget folks Basel does an outstanding show here every trading day 10 to 11 Eastern Standard Time as a fabulous newsletter the opening call Now it's very easy to get Basel's newsletter come over to our website at TFNN Then the newsletters you'll see the opening call on the left hand side You just hit subscribe you can get the opening call for one month for a hundred and forty nine dollars You get it for six months for six ninety five Which is a savings of a hundred ninety nine dollars at twenty two percent and you can get it for a full year for eleven ninety five Which is a savings of five hundred ninety three dollars and thirty three percent now They all come with a thirty-day money back guarantee folks and Basel has about ten to twelve Outstanding webinars on his site so the way it works you can sign up You get a great newsletter if it doesn't work for you twenty eight days from now you get your money back It works for you well either way you're going to get an amazing education because if you go through those archives You're going to be off to the races riding that wave each and every day Basel Chapman. What's going on? Hi Tom. How are you doing great man yourself? Very good. Thank you. So We get a market here. Well, what's very interesting is that with all the negativity the move that we've had from the 13th of October the law of the doubt twenty eight thousand six sixty has fulfilled a Bunch of the criteria that I was talking to you about a week ago We were looking at this and I said the objective in the chat wave is take you from I'll just show this now for those people need to my work from a Low bar that becomes a buy signal and if that buy signal is upgraded to a buy mode It should go to at least four higher peaks and alphabetize them ABCD the fourth highest peak It can go even EF and G but D is really the objective and then you need to use other techniques in the chat wave So what did we do? We looked at the low bar. We got in long often just after the low was made around about 29,900 for the Dow And it went peak A peak B and a very long leg C And I said if I use a particular technique that I call bar symmetry not from the exact low But in this case from a particular level that I usually take it It's the midpoint of the arch of that H pattern that we made from the law of 28,715 Back in late September Then I would it would take me first of all that the target would be above the 32,504 high that was made early September Well, it went above there in leg C When I spoke to you, we were just in leg D In other words, it accomplished everything that is the prerequisite For a buy signal to go to a buy mode in a chat wave taking you to at least a D Well, it made that D that was the Fed That afternoon it pulled back and then it ran higher went to 33,071 Turned around informed a chat wave inverted Roman candle. I don't want to go through that now I'll do that in my show tomorrow at 10 o'clock in my tiger technicians hour But there are a couple of rules that I have and it fulfilled each one of those rules The reason why we've been remaining long we actually had Soon after we went along we added the three times long a position in the Dow the it's the UDOW that's three times long the Dow itself So we've taken about a 30% Profit from that we've still got the core position And today went to a leg E and where's that E? Today's the high the highs at 33,355 so far the day is young you never know But so far that's the high for the day and it's in leg E The nine periods over the 14 the magnies good to stochastic went from under 80% It's not about just on 79% percent. That's that's good. It's not great, but it's it's good The on balance volume has been the weak link here and I I like to have that confirm in the rallies and so far it's been quite weak But prices the arbiter of the trend and so forth. That's what we've got So the technique that I use here Based on this bar symmetry was the high that was made in the 26th of august That was the next level on the upside that I was looking at our 33,364 That was that very ugly candle. I called the peak a minus because it failed Um, and today we went just above it. So it's reached all the criteria So now I'm going to move this dating chart that I've got you I'm moving it to the left And you will see in the middle the weekly chart and look where we are There's this trend line. So two trend lines that are parallel become a channel So this is a little mini channel And I call it the inside track repellent zone until we can start to trade above it Every time we've got there. We've been repelled. So today we went Fractionally above it and right as we're speaking up 363 at 33,180 We're right on the line And this is still only a leg a and look every other failure since the top that was made at peak e at 36,952 The week of the 5th of january Every one of these has failed right inside that pink and green Inside track So here we are again and they fell either at peak a or a b minus So in leg a one of the this is one of the strongest legs we've had or for low In the down the weekly chart in a very long time So the big question is is this so for all the technicals in the dating are fabulous the The weekly chart needs a little work on the stochastic, but it did This is this is tuesday. We've still got wednesday thursday friday to go So this l that you see here with the nine period moving average has finally crossed positive I have to wait for friday because it could change You know, you're looking at a bar. You have to know what your candle is What time frame and you can't talk about it until that bar completes because anything can happen So at this particular point a lot of the criteria that we wanted have been met And you can see even on the monthly chart if we start to move into the 33,500 600 area We've broken that downtrend line for the very first time in the monthly chart So this is a very important period remain long. I'm actually looking to add to the to the long side But at this particular point, we've got one leg that's gone to a particular target That's leg e remember I spoke about bank of america, which we along It's finally gotten to that leg d nicely above the 200 period moving average We long from the 31st today hit 37 42 Most importantly in this arch formation in the weekly chart that can revert to a cup formation We need to close decisively above the 36.94 This friday, that's really important that that this pattern if it does that That becomes really positive because it opens the upside And within that context what we're looking at is if You can get the bank of america, which isn't the financials to rally and continue to rally I think that's a good thing and other stock that we have it's actually an etf is i a i which is the broker dealer etf It too has just gone above Into the p into a leg d So you remember the objective in the chart wave is to get you to at least a d and that's where other things can happen And this is where we're going to monitor it closely because the technicals here are all pretty good Um We'll have to see what the result. You know, I never say it's it's this particular instance like the the election That's going to make a difference. No, it's what the market perceives How the market reacts is the only thing I care about so whatever the market does whatever the whatever the election results are What the market does tells me what could be next so let's see how this Holds or fails, but at this particular point a number of the criteria I was looking for are there and we're right on the cusp of either a breakout to the upside We're having a consolidation so far. It's looking pretty good folks It's very easy to get bowser's newsletter come over to our website at tfnn You're gonna get newsletters You see the open call on the left hand side you hit that button and you are off the races and you're riding that way Basil you have a great one safe one Uh bottom line. Thanks for doing my show last week. Really appreciate it. And we look for a show tomorrow morning. Thank you very much Thanks, man