 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, Tom Ant, Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN headquarters in St. Petersburg, Florida. Join this morning by our man Basil Chapman, filling in for Tom. Basil, good morning. Good morning to you. How are you? I'm doing well, man. It's Friday. We got markets at all-time highs, right? Ringing in the bell as we come into the weekend. And folks, we got the dial up 142 points right now, more than half a percent trading $27,230. S&P is positive by five, trading at $3,005. NASDAQ positive by 22 points, trading at $82,18. Green across the board this morning, Basil. We got a PPI number, a little bit of producer price increase of 0.1% to go along with that CPI data yesterday, a little bit hot. So the market okay with that, though, as we march on to higher prices. And we'll see where the day goes. It kind of just seems like a continuation, in my opinion, of kind of the week and then the market just chugging higher. And we'll see where we go. Not a ton of news to really hit the market today as we creep into the weekend with positive sentiment. It's interesting that the PPI was just up a fraction when, in fact, the wheat, corn, and soy have had very strong moves from the recent lows. Well, it's not so recent anymore. Let me see where wheat was. Yeah, this has been eight weeks, nine weeks of a rally in wheat. Yeah. And it's gone, I mean, it's gone from the 420 area up to the 545. I mean, that's big. It's amazing when you put that chart. I'm just looking at the monthly. It's like amazing, though, how that still is almost in a downtrend on a monthly with that type of a move, just because of where wheat. Now you can see the downtrend. Look at that. And I'm going back even further. I'm going back to 2010, 1408. Wow. There's a continuous contract. Sure, still. Right, yeah. So even this rally is just merely a little blip on the downside, a percentage shift. Well, this is the interesting thing. You can see that in the gold stocks when they were so low when they go to the single digits. They don't have to rally very much to get a really big percentage. Yes. But it's the same thing here. So it's off the highs, but still only at 522. But this will be reflected at some point, I think, in the marketplace. Sure, sure. Now, Basil, can we jump over to the Dow? Because I know we had been talking yesterday. I believe those numbers as to where we might be able to get. And we're creeping up to right around those numbers, I believe, right? What was the number? The number that I was looking at was initially 26,999 and then 27,160 as the automated resistance points. Because of the move yesterday, I have another reading of 27,296. But the way I've been looking at it, if the Dow is able to close above 27,270, what that does is it changes this weekly chart, which I've got in leg E. And you can see that it's going above almost all the trend line resistances. And the MACD is still very strong in this. The cascades at 89%. So that says to me, and in a way, this is a good problem to have for subscribers because we've been launched since the June 3rd low. So we've done nothing. I just said there's a certain something that we will do today if the Dow goes down minus 40 points at any stage. It's just a kind of a protection thing. But in the meantime, this breakout, it seems to me, is forcing people to start looking at stocks without shaking it. I had mentioned in Tom's show yesterday, that was a show four to five, which I did as a guest host. I said, most people that I meet who talk about the stock market shake their head and say, what the heck is going on? So the funny thing is when I finished the show, I went straight off to play tennis. One of the players there looked at me and said, so what did the Dow do today? I said, close at a record high in the 27,000s. And he shook his head and he used the vernacular that a lot of people have been using these days. This is a four letter word, we won't have to use it here. And he shook his head and said, that is just amazing. And that's, I mean, that reaction I've had from people for the past couple of years that they just, they don't understand it or know why. And I can understand if you listen to the news, if you're listening to what the Fed's supposed to do and all that. But the reality is there really isn't much else that you could put your money into. And I think that that basically makes it as simple as possible. I still think we're in an area right here with the monthly chart. It's unusual that the Dow in the monthly chart has gone to a leg C, but the S&P, and this is really hard to believe. The S&P is only in a leg A from the low that was made back in December at, that was 2346.38. And we're now trading at an all-time high, 2003 or 2004. And this is still only a leg A. Now Basil, this is a great opportunity just because I look at that chart. Now where, why would an A not pop up on that recent high that we had in that monthly two or three months ago, you know, where you get the pullback? Yes, right there on your chart. Well, let me just explain. Okay. This is a great methodology as long as you start to make higher highs. You see this, the low that makes, when you get a low bar and you get a spike to the upside, that cannot be a new peak. Sure. Because the peak, by definition, first of all, you need a trough to start your peaks. Okay. And I use a floating letter. So in this particular instance, let me just get rid of this for a moment and then we can do it very, very clearly. I'm just trying to find it. Because man, that is quite an A leg of that in terms of quite a run, right? So this, once it broke above the high, I'll use my pointer. This is the monthly chart. Let me just expand it so we're looking apples to apples. Yeah, this is what we're looking at. The monthly chart and I'll move it. And I just wanted to show something recently that during the Obama administration, the market went up and up and up and up. And my comment constantly was, I don't know why President Obama doesn't say the market is doing well. I can't understand why, because it wasn't in his wheelhouse. It's not what he always spoke about. And now look, we're going up and up and down with Trump. A much shakier market at this particular point. But your question is, in this particular instance here, in the chapter where you identify the lowest low bar and then you merely count each successively higher peak. But you can only start. Look, I haven't got a peak here. This is the trough from the right side. I can start counting. So what we do is, as soon as it goes by this particular high that was made in December of last year, and that's the high of 20 in the S&P 2800.18, you go to 20, you go 0.1 higher, 0.01 higher, and now you can start calling this leg A. But I usually start off with a gray A because it's under the previous high. You mean, yes, it's good, but be careful because you're under the previous high, anything can happen. So I usually make that a gray. So now what we do is, the next bar has a higher high. I still, that's called a floating ladder. It just keeps moving. Next one has a floating high. And if you remember the data already made a peak A, and then it went higher in the S&P, to leg A, and even this high of May was a higher high. And was June, and now we've got. So this is still a leg A. Okay, we kept getting the highs. I see. I mean, the red bar just jumped out at me, but that makes sense when you walk it through. Perfect. All right, folks. We're going to be back in three minutes. We're going to finish this conversation. We got the DAWUP 152 S&Ps up for record highs. That'll be right back. The TAS 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. 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So Basil, I see you're sitting up while we're back to the Dow or we're going to jump to go for it. So, let me just, I just wanted to show you something here on the S&P. These are all the Chapman Wave automated resistance points and support levels in the different. This is the 10 minutes. This is the day. This is the middle, 120-minute chart over here and the monthly has a lot on the right. On the basis cover. But you can see, yeah, so right here we've got between 316, 320 and 327. There's a lot of automated resistance levels. And the whole thing about this is if you snap right through it, that is really positive because these are usually very good. You can see how you stored each one of these before you took off. And look at this beautiful support level here, this weekly at 2735. I do respect these. I do my other work, but I usually do this just as a check. So that says in the S&P, you've got that resistance in the Dow. You broke out of the earlier ones. Now you're at this upper end, 27296 is the next one. And we're going to go through all the others, but it does show that it goes all the way to 28,959 in the monthly at some point. So that's what I like to look at. And I just use it as a reference point because I do so much of the other work. You can see the cues are not acting as well as the Dow. The S&P is not acting as well as the Dow. And look at all the resistance levels here, the QQQ, that's 193.20, 193.71. So that's just saying that there is quite a bit of resistance coming up. Breaking out would be very positive. But even more important is that this is a very, it's now a little more complex as market because T bonds have started to pull back sharply. The, I had a, I had a sell, just a short-term sell signal in the, this is the bonds themselves, the U.S. Continuous Contract of the 30-year T bond, made that peak D when we was looking at Ds. Look at that sharp pullback from the 157 to 153. We say sharp, but look at the way it's come from. But it's the speed with which we've come down. Also I'm a little cautious here because this is a leg, this is a leg F and by today there's no way we're going to go above 157. So that makes us weakly at a peak, potential peak F with a magnitude turning down, still good. And the stochastic still good at 85% and the unbalanced volume and relative strength all turning down. This is, you know, be careful because those yields, that can, that can flummox the market a little bit because what the Fed's saying, what the market's doing are two different things. Yeah. I mean, we got, we got that core CPI yesterday, 2.1%. I mean, the Fed's core inflation that they're looking for is 2%. So you're coming in a little hot and you get the PPI at 0.1% and it is quite a run in terms of just even I have the yield chart up here real quick and quite a run in terms of you're talking about, we just went from 1.95 on July 5th to sit in it. Yes. The 10 years this is. I got it right up here. We're in a leg B. And that's, you know, 2.0% folks in the span of seven, eight days to the upside as we're coming into what the market perceives as a guaranteed rate cut coming on July 31st. That's quite a market in terms of. And tell me, tell me, look at this. This is my automated TLT Lehman 20 year treasury bond fund. Okay. Look at that. Look at all that. Look at the resistance levels there. And it's broke right through the 13171. So this is going to be very important because, you know, it's, it's such an interesting way. It's always an interesting market. That's why most of us who are involved in the market just I absolutely fast every day is a challenge because there are just so many different pieces of the puzzle. But to make it as simple as possible in the TLT, I typed this in when I heard it a couple of about eight weeks ago, maybe a couple of months, someone mentioned Tina, I thought, what is it? I've heard all these different acronyms and they said, there is no alternative. And I think that that makes it as simple as possible. You know, real estate is something very different in a stock. You can, let's just say you have a stock worth, say $80,000, right? You can press a button and within the, within less than a second, you're out of it. Yes. But let's just say you've got a mortgage of $80,000 and you've got your real estate and you want to get out of this, you've got to put it up for sale. You've got to get it ready. You've got to get, you know, it's, it's, it's just a different business. Then the question comes in as to whether it's really worth $80,000 because you might think it's worth $80,000, but there's not an active by itself. So not only can you not get out of it, but maybe you've estimated the price to be a little incorrect on something so illiquid like a real estate transaction. And that can be good and bad. I'm not talking about it good or bad. I'm just saying that could be good and bad. It could be worth more than you're guessing. But the market is so illiquid for something like that versus stocks. I hear you push the button. It's in your account. It's in cash straight away. And then you were just talking about the Dow and kind of the day divergences versus the Dow versus the S&P. Look at the IWM. Yeah. IWM is just kind of stuck in this range. It didn't get even close to the recent high for 158 and 155.49. You were talking about yesterday in terms of the different stocks in terms of we had Boeing putting so much of the emphasis into the Dow for so long. And then yesterday, you just said, I mean, United Health was up huge. You had Goldman Sachs got quite a bounce as well yesterday. And your nature is up again today. Goldman Sachs finally woke up and said, oh, oh, really? You know, Goldman Sachs, Boeing, United Health, all of those. I mean, you look at three stocks in the Dow. That's 10% of the whole index. And all of those were mammoth numbers yesterday. So you can see why. And that's been the same today. Yeah, the same ones. In fact, and in fact, that's one of the reasons why I've said that the Dow is the Dow 30. I don't I don't want to call it the Dow Jones industrials. I want to say it's the Dow 30. There are there are like three industrials there. You know, this is a this is a mix of what has been considered core American products, Home Depot. You know, this is this is very important to even Walgreens boots, which is remarkable there and there as well. They got quite a bit pulled back almost to finish the day in the negative. But same thing. I mean, industrial Walgreens, you know. So the XL is the S&P select industrial spider also not exactly the same, but it represents something a little different because I think this particular mix is telling me more about the industrials. If you had to include the United Technologies companies that have been dragging the Dow down, that has not made an all time high. Yeah. So you've got to just the picture is what are you looking at? And what do you see for that particular individual chart formation that that is being formed? Yeah, a little bit of divergences hitting the market here and there. So I do I do express I just want to say that I do expect that there's some kind of a topping action going on here on the shorter term. But on a purely practical level, I'll do this. I'll if you don't mind, I'll give a little lesson. Let's do it. I like it. You see, actually, let me grab this chart right here. I think this is the one I'm going to open that up. It's a good time for lessons when you get stocks at all time highs and you know, I mean, seriously, in terms of what's going on with bonds. I wanted to make it I had that webinar, my last webinar I did for subscribers. Yes. And then that webinar I spent quite I always talk about the nine period moving average and the 14 period moving average. I just these are part of my vernacular. Everybody has their special things. I know Tom always looks at volume. Everybody has their thing that is there. There we can call it their bread and butter tool that they look at. This is their wheelhouse. So I'm looking at this and I'm looking at it and saying, well, that nine period exponential moving average is so high from the 14 period moving average that you cross negative. Look what you'd have to do. We can talk about that when we come back. It would take a lot, right? It's a practical, yeah. And folks, come on over to the front page of TFNN. There is that webinar right there. We'll talk about it after the break as well. The Tide from Basil Chapman last month. Check it out. We'll be right back. Hi folks, Tom O'Brien here. 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He talks about so much because he's got so much information, and this is just a sneak peek of those archived webinars that subscribers gain access to. And there is that webinar, The Tide, on June 12th, Basil's talking about, let alone he's got a few others in there that you can check out. You subscribe, you get 30 days money back guarantee, and all these 90 minute webinars, you can get in there, watch as many times as you want, and get up to speed with that Chapman wave. So go ahead, Basil. So this has got no lettering at all. This is just basically looking at moving averages, and you could use, people use all different kinds of moving average. I just say, be consistent in whatever you use. Don't keep changing it because you're gonna confuse yourself. Stick with what you've got, and just learn what the parameters are within it. And my point, my only point here is, yes, I've got, this is the spy. I thought some people might not get the S&P if they're listening to the show, they might, it's easy to go. SPY, which is the S&P, the deposit of receipts, and it's really basically the S&P in the ETF form. So what we're looking at here is trading at 299.85, up 54 cents, up 0.18%. But you see how far it is away, the price is away from this green line, the nine-period moving average. I use exponential moving averages, you can use anything, but just be consistent. And the bottom one, the black one is the 14-period moving average. Look at what it takes to go from very positive, if you remember, this is the April high, and fortunately in the Dow, we got short the day before the high and rode it all the way down, reversed to the long side at the bottom. But look how long it took it. This is not a timing mechanism, this is a confirming mechanism. So look how long it took before you got a crossover to negative from the nine-period moving average to the 14-period moving average. But look at the points you went from right here on the third of May at 294.34, a little below the high that was made two days before. So two, we call this called a 294, and you had to go down right here, you had to go down to 282 before you got a negative crossover. So my point here is I didn't want to be in any hurry to tell subscribers, and oh, this is getting kind of toppy, we've got all the resistance levels, get out and it's a, no, what we've done is we had lightened up on the way, we've still got a good position, and what we're looking at using the S&P now, or the spy, we actually long the dowel, the 200% long, we have a position there of the dowel, but it's the same principle. So what we are looking at here, this is now in leg F, usually a leg F in the Chapman-Wayne-Mathcroy, she says, wow, do you think in a recycle higher, or this is where you've got to be very careful, we're looking at a doji, three doji candles so far, if there's a little doji candle or a down candle today, maybe Monday we start a little bit of a pullback, but look what you've got to do, you've got to go to the green line, which is 297, so that's two points, then you've got to go down to 295, so that's another, you've got six points, no, where we are the higher today is 300, exactly round number, 300.00, isn't that incredible, all time high, you make a round number, at 300, anyway, so this is just, you've got a lot to go to the downside, so you'll have time to get out, if you want to go short, you'll have time to go short, just think about how strong this is, just based visually on the technique that I'm using here, saying that you haven't even gone back to the nine period moving average, you're still above it, you've got all that time, and then you still have to cross negative, and then you finally have to go underneath, you have to get the nine crossing the 14 to really get a confirmation, so I think this is all going to take time, and what I said to subscribers is, either we get a really sharp news event today that just really tanks the market or over the weekend, but more likely, it's just maybe we're going to start to get lower highs and slightly lower lows, as a process evolves, and sudden spikes to the upside, maybe even making slightly higher highs, but we have to wait for these moving averages to actually turn down, that was the tide, that's what I was talking about in my webinar, that in the tide, try to identify when you've come off the bottom from low tide moving up to high tide, and when you're going from high tide going down, and if you're able to do that, it really gives you a perspective of saying, all right, don't get, don't hurry, there's plenty of time, just be careful. They tell you in swimming, don't swim against the tide, right? That's the cardinal rule number one, yeah. You're saying that to one of the worst swimmers ever. I used to love diving, I used to love body surfing, but I'm not a good swimmer, and I couldn't even tell you, I was once almost drowning, talking to a friend of mine, and too embarrassed to say that I couldn't feel the bottom, and I was running out of energy, and I was still kept talking until, thank God, I finally felt a little sad at the bottom. The last moment before you screamed for help, right? I was too embarrassed to say, could you just lean over and give me your arm? Give me a hand too, right? And they do say, folks, you ever get caught in a tide, that tide going out, you swim sideways, parallel with the beach, because you don't swim against the tide, because you make no progress, and you just tire yourself out, seems like a great analogy for the market. It's like the market, where the market is, you go against the tide, it's very costly. That's right. So how about Young Brands, Basil? I know we got one of our tigers in the den talking about Young Brands, and I saw you pulling it up there briefly before. So Young Brands is very, actually, let's just do it because we're looking at one that we were looking at now without all my notation and everything. Okay. This is a very good example. So Young Brands, you see, it's making slightly higher highs. This is the daily chart. Young Brands is trading at 110.74, down 0.76. And now you can see more, first of all, we've been using the nine-period moving average. I call it walking the nine-period moving average. Actually, it was leaping the nine-period moving average. Then all of a sudden, and it's amazing how markets make this arch, this rounding top, it's getting harder and harder to go above. This is an automated 111.44 high and it closed yesterday at 111.51, just above it. And today, it went even higher at 111.82. And now there's a red candle touching the nine-period moving average. So I'm looking at this saying, okay, there's a good chance now that the 14-period moving average of 109.99, it's called 110, could be touched. And if it closes above that, there's a really good chance that this left-side low of 108.72 on the 1st of July would be touched. So this is just purely using the technique that I described a moment ago. And now if you go to the charts, I used to have this notated, I simply don't have it now. But in the monthly chart, the big question is, is this a new leg B? And there's a technique that I discovered a long time ago that I call the Chapman Wave Instant Restart, which is the reason why I say that at a peak D, that's where other things can happen. But if you look at the MACD, look how strong the MACD was in the monthly chart when it made this little top back in the month of September of 2019 as 78.14. And then it went, it didn't even touch the nine-period moving average. So I could have said E, F, and then you got your big decline. And this could be A to B, but I like to be as conservative as possible in my notations, because it gives you a heads up to say, okay, you don't have any cell signal, but what are you looking for? Well, I'm looking for the month of July. If there is a doji camera of the star's stall, then I'm going to be looking for a deeper pullback. But so far, the monthly chart is still very strong. I'm calling it a leg D. Could be an alternate count. And then I have to go to the weekly and the daily to do the analysis. Quite a year that young brands has had, man. Look at that, all-time high today. Quite a chart. All right, folks, we get the market just kind of hanging around at highs. Dow up 130 right now. S&P's positive by three, NASDAQ positive by 10. Come on back, folks. I'll be right back. 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That's TFNN.com and hit Watch Tiger TV for the latest market information. Back folks, Tommy O'Brien with Basil Chapman. Basil, we're gonna give a little Las Vegas update here for the World Series of Poker. I play a little poker myself as some may know, so they got the big main event going on out there. They've been showing some of this on ESPN if you had a chance to check it out. Still going on. This is the one that they usually cover, the main event of the World Series, Doyle Brunson winning it a couple of times. Back in the day, $10,000 buy-in for this tournament. You have 8,500 people creating a prize pool of $80 million in this one turn. Is that a record? Just shy of it, Basil. They had 8,700 people, I believe, back in maybe 2006. But poker on the rise, these numbers. I mean, and what happened was- That's fantastic. Back in 2006, online was just booming, like never seen before. I think it was. They reached 8,700. This number has been rising in terms of, and that's a good hint for the economy itself, as in people meeting on Vegas, gambling. Yeah, I think so. Definitely. You used to be a champ, are you still playing? I still play occasionally. The online spectrum is a little bit segmented in terms of, it's legal right now in Las Vegas. Online gambling has more coming to be. It's legal in New Jersey, I believe. Atlantic City, they're doing some business in terms of online gambling. Nothing like this one tournament though. They're down to 35 players. They've been playing for about seven days now. And the winner of this tournament, there are the chip stacks. You got Nicholas Marchington. He is leading with almost 40 million in chips. I believe you started this tournament with 60,000 chips. So these guys, anybody left? There's a qualifier that you're getting. You cannot get in unless you are- The only qualifier, Basil, is $10,000 cash upon payment. And the winner, to put the payouts with this many people, how about $10 million for the winner, whoever walks away? Quite a price tag. And even if you make the final nine, you're guaranteed a million dollars. And even these people there, and at this point, it's all guys. It's a gentleman-dominated sport for whatever reason. But 261,000, they're already guaranteed decent payout, but they should because coming out of 8,500 people, you're down to 35 left. And, man, these 35 guys, quite the anxiety, quite the excitement. Wish them all good luck. And if you get a chance to check it out, folks, nothing like reality TV when people are playing for $10 million, seeing those emotions. That is a real thing for sure. It is. So back to the market. What else we got that we're looking at, Basil, and Tim? It's kind of important at this particular moment to be thinking that with Amazon Prime coming up, I think that's all he's like, it's just a whisker away from the all-time high. In this particular pattern that I like to look at, it's like a V-shaped pattern. But I really, what I normally do is I grab the top and the bottom, and I draw in a rectangle. And then I make that rectangle smaller and smaller, thinking that the price, if it doesn't take out the low in a short period of time, will work its way to the top. And very often it does it in a shorter timeframe, a shorter timeframe goes to at least a D or an E, which is exactly what we've got here. Look, in the weekly chart, look what happened. You've gone from the high of 20, 50.50 in September down to a low round number of 30, 07, back in December. And now you've got peak A, B, C, D, then there's another little cup formation. And now you're almost back to that level. This is going to be very important for Amazon. And so far, it's acted very well. And I think that that's telling us also a lot about the economy. And that's telling us why there are so many retail stores that are failing. Yeah, and you get, you know, it would make sense just anecdotally as in they have their Prime Day, which is Prime Days Monday and Tuesday, July 15th, 16th. I believe the trillion dollar mark for the market cap for Amazon, somewhere around 2047 maybe. I know they just eclipsed it briefly with that 2050 run. So it would seem fitting, right? They have Prime Day, they push it out. They become a trillion dollar company. That all seems to gel very easily in terms of how that could occur. And it's created an entirely new way of looking at the economy. Every 100 years at the turn of the century, we get some phenomenon, photography in the 1900s, just engines, electricity. And this is the age of basically the internet. And because of that, we've got a whole new way of looking at so many different things. And as I said yesterday, Jeff Bezos says, I think we talk about Prime. He's Prime in this particular move. He's already changed the industry in each sector. And that's, that is quite a phenomenon. I mean, Amazon Web Services, right? Just a dominant cloud player. That is not going anywhere anytime soon, let alone the warehouses and just the products and the delivery vans that they've built out now. They have their own planes, right? I mean, it's, nothing is gonna stop them. It seems as this technology drive marches on, yeah? Right, so what I thought we would do is just briefly, we look at gold and just see what's happening here. I remember I draw in this rectangle formation and said, in my Chep Wave methodology, something I used in our show very often, he said, if you get this, like we call it like a flagpole, this big move up and then you suddenly get a move down, you can define it by drawing in a rectangle and it is amazing. Even with gold, everyone thought, oh, gold is gonna break out. Ops, gold is gonna break down. It is stuck between 1384 and 1442 and that can stay for a while. And if you look at the dollar, the dollar is also kind of stuck in this range, holding very nicely considering what's going on, but it isn't going anywhere. It's just kind of stuck in this range. And I think that that's important. And we were speaking about Crudo. I remember we were looking for that Leg D. Well, we've got the Leg D and the 200 period moving average is so powerful in my work. You don't ever need it. But when it comes into focus, then it really comes into focus and you can see the W formation that's forming in Crudo in the weekly chart. So the magnet of this area around about, let's call it 60, it's easier to do that, means that it can go down, it can go up. It's probably gonna come around, stay around 60 for a little while longer. But if at any point in the next three weeks, if it starts to move towards the 60, 62.50 area, that's 64.83 level in the 200 period moving average in the weekly chart starts to become a magnet. So I like to use these as the same rectangle formation we were looking at. So it was stuck. It could come back, hang around a little while. But those are the levels I like to look at and those are the patterns that repeat over and over and over. If you get to use them and get really comfortable with it, then it doesn't, you don't have a big question mark hanging over the chart saying, where are we going? It says, this is the pattern that could most likely form and if it breaks out of that pattern, you know that you, that's very important. Yeah, and that gold. I mean, if you're a gold bull out there, Tom had talked about it last week in the weeks prior, in terms of maybe looking for a pullback, being okay with a pullback, being okay with that type of consolidation in that box because man, that run that it had from under 1300, yeah, to talking about highs that we hadn't seen in what, six, seven years in terms of the numbers we were hitting on 1400 and change in gold. There it is. Well, there it is. Yeah. The downside was that 1453 level way back in 2016, if I squeeze this monthly chart even more. Yeah. Look at this. You've just been tumbling. I mean, yeah. Right, you're really going back there. 2013, 2014, you wanna talk about a consolidation, right? Basil, how about that box of consolidation almost from 2013 to 2019, right? Where we're sitting? Well, I'm going to show you something interesting. I've got this as a speculation that if at any point gold actually starts to trade in the next two years above 1600, 1650, there could be a huge cup or more like a bowl of consolidation. That says you've got this upside trend line and that could take you all the way back to the September highs of 2011. And so this is pretty good. I'm gonna have to listen to your interview with Tom next week to see because he's in that ballpark at those all-time highs. Not right now, but they're in play if it really makes a run because of that type of consolidation it's had for so long. Folks, we'll be right back in three minutes. Come on back and join us. 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. For the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, six and three 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 get immediate access to workshops where I take you step by step how 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 eight 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 and to start your 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. Welcome back, folks. Been a pretty tame hour with markets just hanging around positive territory. We get the Dow up 121 right now. S&P is positive by three, NASDAQ positive by 11. And I mentioned it briefly, folks. Head on over to the front page of TFNN. Basil's gonna be back here at noon. Sign up for the opening call. You get 30 days, 30-day money back guarantee. You'll be ready for action for that weekend. And of course you get access to all those archive webinars along with Basil, whether he's putting out updates on Saturday, Sunday, Monday, the whole deal. So, Basil, what are we talking about at noon? I know we already got tigers asking questions about things we're gonna be covering in the den at noon. What are you gonna be looking at? Yeah, so a couple of things. I had a couple of questions come in. I'm gonna be talking a little bit about the VIX, what I'd be looking for if there was a downturn here, what the VIX needs to be doing to really confirm that you're going to be going down. I'm gonna talk, in fact, now that I've spoken to you about it, I'm gonna do the same thing with the moving average. I'll do that in my show, talk a little bit more about it, just to show, it's just another tool people can use. And the other thing is, I just had an email from someone rarely emails me, but he only emails me when he has some kind of a short or a buy on the market. And he just emailed me to say, what did he say? Put an order to short the spy at 300 and it hit. 300, funny how that 300 hit to the penny. We have lots of round numbers everywhere. I said, I lost track of my round numbers yesterday. I said, yeah, the dials at 30,000. I said, no, wait, the S&P is at 3000, the dials at 27,000. You need to get mixed up with these numbers. Lots of round numbers for sure. So I'll be talking about that. I'll also be talking about just the scenario that we're looking at here, how there's kind of a diversion going on and that I would not be surprised if that we get signals from maybe the IWM, the Russell 2000, the S&P. Earlier next week than the doubt to say, hey, there's a little bit of a consolidation going on. We'll see what happens. Perfect. Well, Basil, I appreciate you filling in this week for Tom. Always a pleasure, man. I really enjoy it. Always like being with you. Thank you very much, Tommy. Thank you, man. Folks, check out that opening call. Friend page, TFNN. Basil coming up at noon. Of course, we got Dave White at two. Larry Pesimento filling in at three. Have a great Friday.