 standing show here every trading day at 10 a.m. Eastern standard time also it's 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 under newsletters You're gonna see it right on the left-hand side you can get the opening call for one month for $149 Six months for 695 which is a savings of $199 at 22% in one year for 1195 Which is a savings of $593 of 33% now they all come with a 30-day money back guarantee So the bottle and not only that on top of that what Basil has there. He's done many webinars He's got 12 live webinars on there. So the bottom line you're gonna get some great webinars You're gonna get a great newsletter and if it works for you great if it doesn't work for you 29th day Just cancel it and no problem Basil Chapman. What's going on? Hi, Tom. How are you? I'm doing great man yourself. It was great to hear you with Larry. It's amazing he's been trading forever and But you know, it's we always fascinated by his By his technique and what he discussed, but I don't know his memory for detail. He'll say when I was with Joe whatever on Was it a Tuesday? I was a Tuesday 1965 I know man Seriously, it's fabulous. It should be a wonderful workshop. That's for sure. No doubt. No doubt So we're looking here at something that's quite fascinating for me Okay, we could go when I spoke to you, you know It feels like a lot's happened, but if you look we're basically in a kind of a sideways move here Here's the down the left side. I'm showing the daily chart. Let's go back to last week We were around about here at the Dow 33,000 463 here. We are 35 35 463 here. We are thirty five thousand six twenty four To the markets having a little difficulty and if you got every time the market looks like it's about to decline sharply You get a new some kind of an earnings report today It's catapulted spirals up really sharply and helps the Dow the S&P is telling more of the story But this is what I'm looking at. Remember when I spoke to you last week. I said I've got a technique I call it my Technical instruments of last resort. It's like the Federal Reserve is the Bank of last resort So this is my technical tool of last resort This is where the nine-period moving average is over the 14-period moving average and look how many times since April when it crossed green The nine-period moving average showed that the rally in the show the rally in the down the down They made a left side a high and then a right side high and then came down sharply And then it crossed negative pink means that at the 90s under the 14 means that you've got a deeper cell mode And you can keep going down then what happened is it's flipped to positive in June and Once again, they got a left side and then a right side this this m shape pattern and the right side dropped sharp You know look for certain that that green line would change to pink and no it didn't it held green and look where we are now We're at In the same situation where you made a left side high now you've got the right side high What happens next is going to be very important and you can see the informeer At least the importance of this nine-period moving average holding so well says that a lot has to happen for this Price the great great line is the is the closing price of the down for the price to come down Very sharply to get that green to turn pink. That means you'd have to be down 35,000 oh probably in 34,800 to see it even getting close so it says to me a Couple of things have to happen. You have to see that I've got this technique that I call the dark news cloud cover and I'll just show this chart for a moment because there are a lot of things that I wanted to look at but I'll show this and We are now well above this whole resistance area since November of 2022 And what I call the dark news cloud cover is that like interest rates or Geopolitical whatever it is that the market will take seriously and decline There's always something harboring but all of a sudden it looked like oh those things were dissipating So the market actually the Dow itself went above that 30 I think with 34,700 level and now look where we are So this means you've got a huge containment area. So I just wanted to put that into perspective So I am anticipating that we're going to over the next it might take a little while either It's just really bad news and you know, I don't want to go into now I'll do to my show tomorrow at 10 o'clock when I Eastern time and I do my Tiger technicians hour. I did a little bit today, but you've got the TLT Actually, I should show it right now the TLT Which is trading underneath that rectangle and I said was so why is it not going? Oh, there it is There it is a TLT Underneath it's at 98.05 right now that's bonds underneath the rectangle Which made this arch formation within like an m-shaped formation now. It's taken that out So there's a chance yields go higher. You spoke about the doll. You know, I'm always looking at Leg D and a peak D in the Chapman wave methodology for turnarounds look Yes, the the TLT daties a peak D. Look how sharp we fell There's a peak D all the way at 179 back in March of 2020 now look at the dollar It makes a trough D at the bottom and it runs and it's in the leg D to the upside So that and it's gone back into the rectangle So that's the other thing and look at crude oil crude oil is starting to kind of push the upper limit of this rectangle formation So there are things sitting out there that say hey the market might start to worry about this in a moment But when I when I look at the overall market, I have to wait For the to get a confirmation of really a sharper move down for all those those nine-period moving averages in the daily Charts to turn down and so far. They're holding quite well So that's just kind of a warning to say yes The next move down could be a little bit longer and a little bit deeper But we haven't actually started that yet But in the meantime for my subscribers, we were very fortunate. We had a stock I was working to you about this actually for a couple of months now some some Bartek sym is the symbol and It had a sudden spiral yesterday was up 50 percent It's actually up 200 percent of that big rally from the way we entered it We don't have as much as I would like but still it's fantastic to have a big move like holy cow. Look at that thing. Isn't that something? Yeah And yeah, it wasn't take over anything I think this was purely on earnings and there was another company Added to its allotment that it owns part of of somebody some somebody is in the end-to-end AI robotic warehouse automation systems so These events are really important and being able to identify sectors that have this kind of potential like AI And I'm looking at others that I think if there is a pullback here We've started to enter some positions that could be I would say I wouldn't you can never tell whether it's market Unrelated but they kind of under the radar. They're in their own world So I think this is a time for select selectivity raise some cash But at the same time, um, there are these positions that have you know potential to do really well We've got you know, we've still got this box, which is the AI The etf the global ex robotics and AI etf that made a double top. It's pulling back But it's actually holding very well So there are a lot of things that I would like to look at for the next part of the next move up In the in the market after we have some kind of consolidation And folks It's very easy to get basil's newsletter to come over to our website at tfnn You're going to go into newsletters. You're going to see right now left hand side You hit that button and you are off to the races basil. You have a great night a safe night We look forward to show tomorrow morning at 10 o'clock. Thank you very much. Tom. You can thank you Have a great one. Stay right there folks who come right back