 Welcome back folks are down. Excuse me down. That shows right now trading up at 387 We get that as they have 321 S&Ps up 65 Let's get over to our mammoth the Basel Chapman as you do each in every Tuesday And don't forget folks that Basel does an outstanding show here every trading day 10 to 11 Eastern Standard Time also has a great newsletter the opening call now It's very easy to get the opening call folks. You come over to our website at TFN You're gonna see it right under featured content. You just hit that opening call button You hit subscribe you can get Basel's opening call for $149 for one month You get it for six months for 695, which is a savings of $199 or 22% You can get it for a year for 1195, which is a savings of $593 of 33% now they all come folks with a 30 day money back guarantee get it for a month You'll like it. That's awesome You'll continue to be in charge if for some reason it doesn't work for you Guess what get your money back and Basel has approximately 10 to 12 great archives That as soon as you get the newsletter you can go through all the archives early understand how this market moves How those waves move it's a beautiful thing Basel Chapman, how you doing? I'm well. How are you doing good man? And thank you for doing my show yesterday. Appreciate it, man Oh, that was my pleasure. Thank you So what are we looking at? You know, it's very interesting talking about waves When we are looking at this chart young the left is the Dow daily in the middle is the weekly and the monthly chart is The on the right is the monthly chart So sometimes we get very large waves But if the tide is moving up always think of a boat say it's in the dark So it's in the harbor and the boat the tide is moving up The boat is going to move up So if the tide is coming down you can see the tide moving down by the boat and essentially what we're looking at here is In the larger trend of the dating in the weekly not the monthly yet The tide has turned to down and therefore every rally starts to fail and it gets harder and harder But the pattern that I love to look at and I spent a little time in my show this morning in my tiger technicians Are just talking about a different technical tools that I use So when we made that peak D the fourth highest peak in the Chapman wave at thirty six thousand nine fifty two Back on the fifth of January. We made a little patent that I called the dreaded H pattern that failed They came all the way down to thirty three thousand one fifty in the twenty fourth of January Then we started a rally and what I said and I've been saying this basically for quite some time and it's really hard to give it sometimes experience Kind of is in the forefront of your mind, but you have to really dig deep to say where did I get that? What does it mean? So I thought I'd just take a moment and explain what I was looking at Because there's two underneath. This is the dating chart of the down because it's on any of the indexes. It doesn't really matter So I'm opening it up Now what I said on my show and I'll do it again tomorrow in a slightly different way Is that if you use moving averages and because of the very nature of what they are they they're lagging indicators But moving averages I find are extremely important Just to give a sense of either direction or support or resistance So this this orangey colored lot thicker line at the bottom here is the 200 period exponential moving average And look how many times I actually maybe I'll do that right now because I think it's really worth it There are a lot of people that are looking at your show that we're looking at mine So let's just do this. I'm gonna squeeze this so I can get a longer term picture There it is. So now if I go back further enough Look when we're up at the 35,000 level back in May of 2021 Did I care about the 200 period moving average not at all but look at this I'm moving it to the to to the left here now we get to that whole October October 2020 yes to that period and look how many times it held it to it up stop stop It's always hard to get this Put the brakes on there. We see it. It's awesome. Yeah, I can it's not amazing So look and I was just so this one. It's always cool because I heard this this one, which is nice So yeah, isn't it fascinating how it becomes a springboard. So I have to respect the fact now I'm gonna move all the way to the right. I have to respect the fact that we have now gone from it being Not even anything I would talk about in the near term to something that is very important And as you can see as I'm moving along We almost hit it back in September of 2021 And then we ran in a by-mode all the way to thirty six thousand five hundreds pull back to the line Thirty four thousand and twenty two December the first is that amazing that ran up to another four peaks higher Yeah, and now we pull that this time we broke under it. So I respect this As a tool in fact, I'll show you right now Live we can do this and I'll show you this is the the two minute chart Look how important the 200 period moving average has been in the same regard It was support and then it became resistance and look it became resistance at about 210 this morning this afternoon Eastern time then it became support and we still kept going up and even now the green line hasn't turned under the 14 so I don't have to worry about the 200 period. So I treated with respect This is put it that way It's just a tool that I use when I needed I needed when I don't I don't so now Let's move this away and say there's a pattern that I'm looking at and that is the arch formation that if it holds quite nicely after a very strong takeoff Phase which was from the thirty three thousand one fifty on twenty-fourth or twenty-fourth of January There's a there's a pattern that I look at and this once again It kind of goes back to experience, but it's also looked generally we held the 200 period moving average rally So the pattern I said that I thought we would be and I'm going to show this because I had a caller about three weeks ago And I said the pattern I'm looking at in the S&P is the lowercase h that this h pattern right here the arch Okay, that if it holds around the 200 period moving average could see another rally So essentially we're in a rectangle formation Using up time if we can survive whatever the Fed says tomorrow, whatever happens tomorrow and Thursday We actually running even just a little bit higher in the S&P in the Dow without pulling back very much at all But we go higher than today's high Then I have to say you know what it's just going to wear all the bulls and the bears out But then I think we've got to be careful because this pattern says then be careful when it's completed Because you can have a retest of the previous major low So I'm just those are the parameters in the meantime. I've got subscribers. We've raised cash We've got some low-price stocks and I don't call them cheap because It has to do with PE and all other things, but they low-priced. They're in areas that I think are kind of Missing what's going on here in the bigger picture. They're looking out further That's sorry in the near-term picture, but they're looking out further. It's looking to socialize and getting out Parents taking kids to outdoor activities. Yeah, the great breakout. No doubt. Yeah, and that's what I'm looking at So we've got some low price They even had a hotel stock that I thought was holding well We got out of it very quickly because I was a little afraid of the market, but have a look at this He has married why on earth is married at an all-time high married hotels I'm going to mention the word again hotels. I mean, this is you know what I'm saying Look at this. Yes. Yes the steel stocks doing quite nicely. Why is Alcoa doing so Alcoa is almost at a high It's a I mean yesterday was a high. So I'm saying that this is a very bifurcated market There's a fixation on other things. I'm still I am like you. I heard you're talking about this a moment ago I'm still somewhat worried about the semiconductors. They should be leading they're not leading up the leading down So that your estimators has to break into the 300 area for me to say wow Yeah, and so this is very important a very important phase we've raised cash We're watching things very closely and we've got some low price stocks that should do as well as the same In particular sector at a higher level. So I think we I think I'm comfortable with that right now And folks it's very easy to get us newsletter come over to our website at tfnn You're gonna see it right on the front page. You open the call you just hit that button Bowls of a great one safe one. We look forward to show tomorrow morning. Thank you very much. Thank you