 O'Brien. Hi folks, Basel Shaffer, sitting here for the one and only Tom O'Brien, big shoes to fill, but we'll do our best hours down 31 and 33,564. I do the 10 o'clock to 11 o'clock show every morning, Eastern time. That's called, that's market days. The Tiger Technicians Hour and my service here is the opening call daily newsletter. And I will be doing a webinar this Thursday, a live trading webinar this Thursday a week from tomorrow, the 15th, I'll give you some information about it as we move on. But look, the Dow has been the leader to the upside in these particular patterns. I talk about the market all the time as being basically in three way forms, just about, I mean, all the time you can see it, let me just get to this right now. I should have added already, but I'll get it ready right now. So look, there are straight line moves up or down. Let's just put this so you can see part of it. Straight line up, straight line down. There is a cup formation, it could be a V shape formation, doesn't matter it's going for one point down, then back to that point, how it deals with that point is important and it's the arch formation. And it goes from one point up and comes down. You can get a mix, in this case you go to one and three, straight down with the arch formation. If it fails at only the first or second peak, peak A or B, I give them denominations, A, uppercase A all the way through G, there's never an H in the Chapmanian methodology, uppercase on the way up, lowcase on the way down, but if it fails at a peak B and comes down and takes out that left side, look, got to be really, really careful. So on the upside, if you take out that left side high very quickly, that's always a very good sign. So let's get out of those and we'll talk about that as it relates to exactly what we're looking at. What we're looking at is markets are made up all the time of arches and cups. These are the patterns. And in this case, you can see this huge arch, this huge cup formation, I've chosen the left side high right here at that peak A in the Dow chart and gave me an exact bar symmetry. This is what I'm going to be discussing in my webinar, bar symmetry. It's so important. How many times does the price go from one level down and then in the same number of bars it goes back up again or very close to exactly the same level? Well, we've got that. What happened here is that at that peak G stat, see, I won't go into that for the Chapmanian notation right now, but at 34,386, we went just above 100 points above the 34,281 high of the 16th of August. And then it pulled back to the 14th period. Moving average ran up to a peak D. D is the fourth highest peak. So that's the one they always say, the Chapmanian, that's where you lift your foot of the brake for the accelerator for the moment, hover over the brake because other things can happen. Well, in this case, it's had five sessions of moving lower. It hasn't made a lower low yet today. The day's young. We'll see what happens. But at 34,595, it's been the best index. Look at this weekly chart. This is a single leg A with a really good chance that by Friday we make a peak A because there's no higher high above 34,595. And that'll be one leg that goes from 28,660 all the way up to the high of the 1st of December. And now we started December by having one day above the previous high. So that makes this little leg A, gray A in the monthly chart. Most importantly, we're above this Chapmanian Insight Track repalance zone that became a propellant zone making this whole area of 30,000, I'd call it 30,100 to 32,700, absolutely imperative to hold over the next week or two, maybe three. All right. So that's the Dow. So the upside has strong resistance in the 33,800 to 900 area on the shorter term. The key support will be, the very near term will be 33,420 to 33,880. If it goes under that, you've got to be careful. S&P, it's the same thing. I don't want to go through the whole litany there of these different technical indicators, but you made a doji candle Pd at 4,100 at 0.51 on the 1st of December. Now you've given back all of the gains plus and you're very close to yesterday's low. So this is a leg A to the downside, lowercase A, and we'll see if it forms a trough today by having a lower high, I mean a higher low, we'll see. But the MACDs turned down statistics way down to 49%. Look at the on balance volume. It's already kind of oversold in this area. So I've been saying to subscribers to my opening call since we are still along the Dow and still triple along the Dow as well, but we have taken very nice profits when I still kept core positions, and we did not go to the short position via the three times short the S&P, which is what we've done before. We did that quite successfully recently, but I've got to be very careful here. I see internal strength as well as weakness. So there's 200-period moving average right here in the S&P at 4,022. Look at the fulcrum, the way it goes up and then down and up and down. Now it's down, the further it pulls away from that level, the greater the chances are it stops being a magnet and becomes a repellent line to push price down. So watching that, and also look, there's a technique that I developed a long time ago. I called it the Chapman Wave, inside track repellent or propellant zone, it's become a repellent zone. Look, this is the third try to break above this trend line, these two narrow trend lines that make a channel. And it just hasn't been able to do that. And last week it actually crossed the nine-period cross positive in the weekly chart. It still is, but so far it's not holding all that well. Look at the QQQ, the QQQ is the index 100, it made this doji candle peak E, it's pulling back underneath the rally into the first and even the second of December. Look at this, now we're coming back down and it's down $1.50, $280, Dow's leading S&P's next QQQ is following that and the IWM, IWM is also very weak, it's down just 38 cents today, 179.69, but look how many times it's been repelled from this orange 200-period moving average. Now those are the things I'll be talking about and working on when we have the trading session on Thursday week. So let me show you something else, the gold contract. So gold is acting very well when you look at the shorter term, look at this going from the 16, this is the continuous contract, about 1630s and it has this huge, well actually this is, let me give you the exact figure, 1633 in the continuous contract, the week of the 4th of November, this is a lovely move to the upside, but wait a minute, when you look at the high that was made way back in March in the 2100 area, this is just a little bit of a rally right now, so gold has got a lot to do to really turn the corner to say this is the place to be, but so far it's acting extremely well. I'll be back in a moment, Dow's down 45, S&P's down 12, Basel Chap is sending you for Tom O'Brien, this is the Tom O'Brien Show, be back in a moment.