 on a journey with me. If you look over here, I have a blank web page. What I'm going to do is going to type in to the URL there, write tfnn.com. Navigate right over to newsletters and lo and behold, we have opening call newsletter by Basil Chapman. Now, Basil on March 19th, as you can see, just had a subscriber webinar. This is one of the coolest things about subscribing to Basil is he does subscriber webinars. They are free for all subscribers. He does them pretty often, I would say. So if you missed it, not to worry, we have all the archives uploaded. So you subscribe right now today. It's your first time 30 day money back guarantee for whatever reason, it doesn't agree with you. But you get access to all these webinars, you get access to daily analysis. It is fantastic. And indeed we are with Basil Chapman right now. Basil, are you with us? I certainly am. Hi. How are you, Jacob? I'm doing well. How are you doing, Basil? I'm good. And thank you for saving the day this morning when my charts didn't post. You came along and you posted them for me. Thank you. Technology makes our lives easier, but sometimes it can make it a lot harder. So I'm glad we're able to get that out for you. You know, it is a pity because we actually I have some sometimes the timing is really important. This morning I had us wanting to buy the semiconductor three times short, there's a small position in that. And if my user went out, as I thought it had, caught a date this morning, we would have got this particular instrument to $3.18 of an inch a day. It ran all the way to the 330s. So, well, what can I say? We missed that, but it was just unfortunate. But the other things that have worked out very well. So that's SOXS, right? S-O-X-S direction? Yes, S-O-X-S. And that really is based on the SMHs. And the SMHs, let me just show you something here. So my theory has always been, number one, the chip sector, that's the semiconductor sector, is the oil, the crude oil of the 1900s that we had. This is now the crude oil of the 21st century. Everything now has chips. So it's really important because for a long time, I'm not too much years, I've known about, almost decades, where the semiconductors have gone. Basically, that's where the market goes. And the semiconductors made an all-time high on the 8th of March at 239.14. Pullback, made a peak D in the Chapamev methodology, pulled back to the 213 area and then ran it and started to stall. And my contention is, I'll just show this chart if I can. Let me just get this across here. There it is. That market basically has three core trends. One is where there's a straight line up or down. That's this green up, red down. Or it has a cup formation. It could be a V, but it's basically going from one point down and then back to that point. How it deals with that point when it gets back there is important. And an arch formation. And when it goes from a low, it goes to a high, it fails at a peak A or B, the first or second peak, and then comes back and retests that left side low. That's a problem. So he has a combination of one and three. And you can see the semiconductors went straight down, ran up, made a little peak, failed, took it out, did it again, failed, took it out. That's what we call the dreaded age. And that means that if it takes out the left side low sharply, it can go a lot sharper. So that's the part, the patterns that we were talking about when I did my webinar. I said, if we're about to have a consolidation phase coming into April, the pattern that we need to look at would be this H pattern. And here we've got the same large arch formation where we've gone to this peak B. That's the second highest peak from that low. And we'll see because at this particular point, it's still good. The nine-period moving average is over the 14. That's the thing I call the indicator of last resort. It's the one that really takes a long time to fail, can keep you in a position much longer than you anticipated. So here we've got the semiconductors about to turn down, hasn't yet crossed negative, but I'm watching because I think that'll be important now. What's really fascinating here is if we go to the Dow, and here we do have the Dow as a short, we have long-term positions, long-term that we're not touching in the Dow diamonds. That's the long position of the Dow. But on a short-term basis, we are short, and that so far is working. But even here, you can see this. I wonder if I can do this. I'll do this right here. This, on the chart on the right, this is the price of the Dow. Let me just change that to the Dow. And this is the price right now. You can see we've had so many of these great, this is the price of the Dow, the big thick gray line. Gray line coming down, and yet that nine-period moving average, even in that early, it was a genuinely sharp pullback, that green line did not turn pink. When it turns pink, you can see the market's going to head quite a bit lower. So I've been watching this very closely, and that's kind of the benchmark for me right now, whether or not we're having just a digestive phase, or whether it's going to become a deeper consolidation. So that's where we ask our short-term Dow working out fine right now. We've also had a number of positions that have reached all-time highs or yearly highs over the last two weeks. So I said, we've got to be careful here. We've got profits. We started to take profits off, and we started to look at what are the ingredients for a market to go down sharper than just a consolidation. And one of them is the yield. So I'll go show you the TLT pullback very sharply. It took out the low of February of 192.01. This is the iShares 20-year Treasury Bond ETF. It went under it today, and you can see we're making in the week each other. There's the daily chart on the left, the weekly chart in the middle, monthly chart on the right, and you can see we're making low lows and lower highs. So far, this is still within the parameters we've seen for some time. But if the yields go much higher, in other words, if the TLT starts to take out 90 as a support level in April, I think then we have an ingredient for a steeper decline. But so far, this is kind of what you would expect based on my daily charts, because the weekly charts are all strong. And that's going to be something very interesting, because we've seen a rotation from the Magnificent 7, maybe Magnificent 4 now, and that's included Microsoft. Microsoft made an all-time high just the other day on the 24th of March at 430.82, and it's still holding reactionary long from the 338 level. But the weekly chart is still only a leg C in the Chathamway methodology. It's that fourth highest peak D. You can see we made one right there back in July of last year. And we pulled back from 366 down to the low 300s. So far, the weekly charts in the Dow, I'll show you this here. Let me just go to it. In the Dow, still strong, leg C. It's actually a peak C, so it should go to a D. And we can go through the different weekly chart. So I'm looking at this one step at a time, and that's the daily chart. You can see we held the inside track Propeller and Zone. This is that green-pink-narrow rising trend line here. It's a little channel held it so far today, and we'll see if it sakes it out. If the Dow starts to close under 39,000, I think that's going to be a problem. So there are certain areas that are still acting very well. For instance, we have a rig, which is the trans-ocean limited offshore drilling oil and gas. Well, you know, crude oil prices are going higher. So we've got this, and it's doing very nicely. And I think that's, so there are areas, regardless of whether there's a digestive phase, it's called the tech sector or the semiconductors. I think there are a lot of areas that are actually doing quite well. So we try to ride those, and I like to have price levels, single digits, double digits, four or triple digits for subscribers who want different pricing for what they would like to buy. Absolutely. And Mazel again, congrats on that call with SOS, student fantastic today. Thank you so much for joining us. Thank you very much, Jake. Take care now, Mazel folks. Stay right there. We'll be right back.