The following is a presentation of TFNN. The Tiger Technician Hour. With your host, Basil Chapman, call now. Call free at 1-877-927-6648. Everyone, Basil Chapman. This is the Tiger Technician Hour. This is Tuesday, Tuesday the 24th of May. And what we're looking at here is something very interesting. You've had the volatility actually start to climb after that really good Friday low in all the indices. Very strong close on Friday in that last hour and a half. You saw the spectacular 600 point Dow move. And then you had a beautiful follow through with the Dow up 600 points yesterday. Normally I'm anticipating 20 to 30% of the last hour's big move to the upside. So this is a little more than we're looking at. And you've got the VIX index for the first time after the move yesterday. Whereas start to pull back. Now all of a sudden you've got the VIX up at 29.91. If it starts to go into the 30.50 area a little later today, that's going to be very pro-action. Let's just go through the numbers. We've got the Dow. The Dow is down 221. Not bad at all after coming up from 30,535 to the high yesterday of 31,770. That's really a 1,200 point move in just a couple of days. So we're giving back nothing unusual here except two things. One is we needed the Dow and the days young. We need the Dow to at least move towards the... Let me just get this changed. We need it to move at least towards the 9 period moving average of 31,844. Somewhere by the latest tomorrow. The couple of starts that we've had this morning after being down sharp overnight were good. I would have much preferred for them to not be there at all and have the market week, week, week. And then slowly as we get to 11 o'clock this afternoon, as I'm finishing my show, and then we move on to maybe 12, 30 this afternoon, suddenly you start to see some buying pressure that allows the general... I don't want just the Dow, I want the general market to move and you absolutely need the QQQ, which is trading right now. Where did that go? I wrote it in there until the day I don't need it in the day I need it right here. The QQQ, which is at 283.55 underneath key support at the 288 level. Now this is going to be a little bit more serious. We're down almost 10 at 283.71. Well, of course, you've had a whole bunch of Nasdaq type stocks that really have been pummeled lately. What you want to see is some leadership and how that leadership unfolds is going to be much tougher right now. Now, one of the things I discuss is within the Chapman Wave methodology. Let me see if I can go... Yeah, I'll just go here to my chart that I show my subscribers every day. So this was the fifth Chapman Wave Roman candle. We've had variations of it. I've never spoken about variations before until recently. And each one produced a fabulous two-day, at least two-day rally, with three summer war, and then it failed. And then it failed and went to a lower low. Well, so far, we've had a spectacular turnaround on Friday from 30,635 to a big move up to the 31700s. It's the pink nine-period exponential moving average. It just can't get out of its own way, 35,590. And what do we see? We see kaplop. We've got to move down today, 288. If we go down minus 350 and hold it for an hour and a half, I think that's not going to be good action, certainly within two days. If there is a move, and you never know in a market like this, I'm just showing you it out there. If there is a move of the Chapman Wave Roman candle long week, underneath 31,000, and it holds for more than a few hours, I think we're going straight down to test the low that was made at 30,635. That makes it very important that in the next couple of moments, moments are meaning 20 minutes to 40 minutes, some kind of leadership role just unfolds and allows the tendency for buyers to come in when the selling dries up to work. And that's all we can say. So let's go back to our story here. I'm going to give you parameters to watch. Let me just show you something here. Have I done this before? I haven't done this before. Let me see. Is this the one? Yeah. So let's go to this. This is the Chapman Wave automated notations. Look at all these support levels here. This is the QQQ daily chart. Look how it's negative. The nine is under the 14 period moving average. And each support level has held for a moment and then been taken out. The 332.47 lost the only upside resistance. And the high was actually 332.29. That came in and pushed the price back. Now we're starting to move underneath these key support levels of 287. Is that 477? And we're 283.56. If you're looking at the Dow, also negative connotations here, 31,300 is a really important support. Otherwise, you go down to the 30,689 level. And of course, we are looking at the low of 30,635. So it it nicked it by 50 points. And now we're going to see the QQQ. We did the QQQ. Let's do the S&P. S&P at this particular Chapman Wave automated support levels. If we take out this level right here of 389. Yes, 3891. We're at 3897 right now. Watch out. The 3750 area, 49 area will become a target. Don't really want to see that, not today. IWM we did. Let's do the IWM. Russell 2000 has 172 as support and is trading at 173.98. Very few resistance levels. I don't like that. I think it says each level of support is really important to hold. If you look at the SMHs, and that was a clue yesterday. You didn't get the SMH moving like it should. And today it's down 7 at 222.71. The 205.62 is the next key support level. So that's not such a great sign. Looking at the GC, the gold. Gold has had a very nice move up. It's hitting the 200 period exponential moving average. 1896 is a strong resistance. If it's able to close, I would have to say if it closes above 1878. It's at 1863 right now. There's a real good chance that the 1890 area is going to be a very quick target to the upside. How does it hold the support? We'll see. Looking at silver. Let's go to the silver. Silver has waiting for data. Waiting for data. Come on, silver. Hey, ho-ho. There we go. Silver is holding quite nicely here. It's made a peak. LAB is at 22.01. It's up 0.29. It's not a great pattern at this particular point, but it is moving up. Let me just show you the GDX, because a lot of people have asked about that. It has supported 30.17, and it went down to 29.66. It had double support, 30.46 and 30.17. 33.17 is the resistance on the upside in today's high. So far it is 32.79. Looking at the dollar. I wonder if I haven't got this for the moment. Yeah, recent times. 105.13 was the resistance. 105.0301 was the recent recovery hind, the dollar index. 101.80 is the support that's trading right now. And 101.93, the TLT, which is the key ones, has doubled support at 110.32. Time of booming inflation. We are purchasing powers eroded. There's no better place to protect your harder and money than in gold. Vista Gold's flagship asset is the Monk Cod Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tier one mining district. This is a large-scale, low-cost project with significant existing infrastructure and a politically safe and friendly mining jurisdiction. Vista Gold just completed the Monk Todd Feasibility Study, which resulted in a 7 million-ounce gold reserve in a 16-year mine life. All of this combined with the approvals of all major operational as well as environmental permits. 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Toll free at 1-877-927-6648. Internationally at<PHONE_NUMBER>. Hi folks, we're back. Basel Chapman. Targeted. This is our... The bonds are up. TLT is up 252. Just starting a leg C right now. And that's a good sign in terms of the yields because now you've got the yields starting to come down. That's really important. If you're looking at... Let me just do the U.S., which is the... U.S. is bonds itself. That TLT is the Lehman 20-year Treasury Bond Fund. We're going to go to bonds. And bonds is... Yep, same thing. Acting very, very nicely. So we got ourselves a TLT buy signal that's really close to a buy mode because the stochastic is at 86% in the bonds. MACD is good. 9-period moving average has gone over the 14. So bonds can actually start to move. This doesn't seem to be helping the market at all. The Dow is now... The Dow is now down 436 to 31,441. So every single time we've had this fabulous candle given a beautiful 600, in this case a thousand-point rally, it then failed. And so far, we've got to consider that the dollar, that the Dow, this is not great action at all. The S&P, that's a very different kettle of fish because the S&P at this particular moment has taken out the low of Monday and has taken out the close and open of Friday and we're into the WIC. And once again, I'll say it. If the WIC, if we go into this WIC and hold more than 90 minutes below 3867 then the S&P is a real good chance we're going to go straight back and test the 3810 level on Friday. We don't really want to see this if you are looking at signs of some kind of strength to say within the general economy we know that there are so many factors that are impacting the market. Let's see what Zoom is doing. Zoom had some earnings that were okay, I guess, or at least at first they thought it was great at bouncing about 12 points. Now it's down 56 cents at 88.73. It just doesn't get a break. It made a trough E in the weekly. Look at the spectacular move from 588.84 with the 477 round number open back in October of 2020. And here we are at 88. I mean, 588 to 88, you've just lost 500 of those points. This is not a good action. So right as we're speaking, this is the very moment that at 1025, is that right? 1021, between 1021 and 1040 this is the moment that the general market has to at least try to find some stabilization so that prices don't go to the QQQ going to the bottom of that wick. Let's just see. QQQ. The QQQ. Oh yeah, it's into the middle of that wick. Uh-oh, we're going to give it about another hour. And if it holds under 284, let's call it 281 right now, then there's a real good chance that we're going to go to a leg deep below 280.21 very quickly. Yes, there were signs. Look, the vertical test on the May the 12th, yeah, May the 12th had better technicals than it had been in the recent weeks. And then the low that was made on Friday saw much better stochastic, much better MACD. But no, the on balance volume wasn't there. So this move that we're looking at right now, the failure to go, it did make a very, I thought it made a slight peak A yesterday, 29380, 29387. Yes, there wasn't a very minuscule A, but that doesn't matter. We're looking at the prices and the prices, the arbitrar of the trend. So today's the last day of options roll over. So expect the unexpected. Yes, S&P, thank you for that. I forgot about that. A 2022 phrase of the year, Jerry says, demand destruction of demand discretion, not demand destruction, but the demand is being distracted. So let's go on. We're going to be looking, I just wanted to show you this here because it's really important. We like to be very timely here at TFNN when we're looking at the markets. So what we're looking at here, this is a gray A in the S&P. It went down to 3876.75. It's rating at 38.89.75. No, 38.88. At this particular point. So if you are thinking this is the moment where some form of reversal attempt and then maybe a first one and then a second one with a higher low is needed, that's not good enough because we haven't had enough upside action. So if the upside went to 38.89, I'd say 38.92.  Then I would say, aha, now we're ready for some kind of, in some ways, because the Qs are so much weaker. If the Qs weren't that weak, I'd say, you know what, let's just show you something. I'll get back to this in a moment, but while I'm thinking of it because I think it's very important, the DOG, which is one-to-one short the Dow, went to 36.65 in leg and then a peak D. That's what we look for where other things can happen. Well, other things did happen to pull back very sharply. Yesterday, we went down to the 35, roundabout 35 level, announced the 35.67, but it's still way underneath that high that was made at 36.65. This is the one-to-one short the Dow, the one-to-one short, the S&P is the SH. It did a recycle and it went to a peak D as well. This one went to 16.52, I think it was, 16. Oh, 16.54 and at 16.54, let me just, 16, 16.54, what we're looking at is it pulled back, not that much, but it pulled back to the 1570s and now it's a 1621. So this is just saying to me, this is one of the reasons why I say to subscribers, I think that we are trying to establish some kind of support level. We don't get too carried away. We still have the very high cash position. We've got trades going in and out, but at the same time, what I am looking at here is that within the context of the weekly chart, there's only a leg C. That doesn't mean that the inverted indices always go to Ds and then fail. No, they can fail beforehand because they go one-to-one, but it isn't an exact copy, a replica or a mirror image. So I always say, I like to see Ds or Es, but that's not necessarily the expectation. So with that said, it does down 412, S&B's down 18.9. This is just not good action. The QQQ is down 10 to 82. I need to just keep checking my, one run to the break, but I don't know when that came in, 8.25. I guess we're coming into the break, I don't want to miss it. Again, I had this earphone thing and I hope during the break, I'll be able to fix it.  So I'm only going to be able to do some kind of adjustment. We'll see what happens. And I'm about to say, we'll be back in a moment. Now is now. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. Gold Report is a comprehensive look at the metals sector, as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30-day money back guarantee, so you have nothing to lose. Every Monday morning, I publish the Gold Report with coverage of gold, silver, bonds, the XAU, HUI, GDX, as well as more than 30 different mining equities. 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If you look at the SPY itself, the SPY has gone down to a trough D. So as I was saying, this is really a very important moment because within the context of some of the technicals I look at, not the major ones, but some of the technicals, the actual... It's better to show you this way, look. See the Chapman Wave inside track, Pro Palin Zone, see how it works so nice. It had worked so nicely. I don't know if it'll still work here on the weekly chart. Look at that. It ran up from that level. It's kind of what you want. And even the pullback today, 407 in the doubt, that's not bad. But it's the S&P, the 500 stocks that we're looking at. So let me just do a couple of things right now. You've gone underneath the Chapman Wave inside track support level. So that's a negative. The QQQ, as I said before, very ugly, not good at all.  You're trying to get into certain very low priced areas. Why? Because you don't have to put that much money to work. If it works very nicely, it gives you a nice percentage gain. Just keep, we want to keep doing that. And as long as we can do it, that's a good sign. So on Friday, I showed, on Saturday for my overview for my subscribers, I showed a stock MNKD. This is called Mankind Corporation, M-A-N-N-K-I-N-D Corporation. Inhaled therapeutics, diabetes, pulmonary, hypertension. And I said, look at this incredible, this was right here. It was right here. Yeah, that's where it was. Right there. And I said this showed up on my streamer list. What is a streamer list? It's stocks that are under $10 that have a chance to give a really good, very quick percentage gain.  It's as simple as that. Well, I had it here on Saturday. I didn't put it in yesterday because I just was, I was looking at the general market and thinking, wow, that is it going to be a good day today? Let's just focus on that. And so we basically focus a lot on the indices. And look at this move. It went from basically a low of three, right about 360 and screamed up to a high of four, 77.  This is a, it's a big deal these days, but these biotech stocks just go in and out of phase. So I thought, all right today, and what I had written today is let's try to buy it on a pullback under four with a 25 cent stop. And if it goes and I have all the rules that if it gets to a certain point, take a little bit off raise and stop, et cetera. But it did everything and I looked it out at the very last minute and I thought, I just, I got to focus on these, the stocks that we have. Well, look at it now. It's up 17 cents at 434. And I don't know if it's an F continuation from that P E because it never at 2.61 on the 12th of May, it never took out the low that was made to start the buy mode before 2.49. That was on the 28th of Feb. So it could be, it is biotech, so you've got to be real careful. But yes, I took it off. I'm sorry about that. It would have been a real nice one because we would have got it under four and it would have been trading up about 8% from that low. And that would have been real, that's just kind of the stuff I want to be doing right now for subscribers, just getting really small caps, not small caps in the sense that they are cheap, that could be expensive small caps but they are just price wise. And yes, there are a lot of people that keep wanting to be involved in the market all the time, regardless of what's happening. We've built up this huge cash position. Don't have to be overdoing anything. But look what happened. Big spike, up 13 cents at 4.30. Hit 4.39 today. The low is 3.92. I hated when I do the work and then it's the very last minute I blip it out. Most of the time, it's not a good idea to blip it out because you've done the homework, you've done everything. I just, I don't know what to say, just a little embarrassing there. And I also wanted it because it would make up for the one that we had yesterday, very low price, but it didn't do what we wanted and it pulled back much sharper than I wanted it to, but at least we had a very, fairly tight stuff for a very low price stock. So with that said, TTD, question in the den. I was at a statement. TTDs, this is the trade station. Look at that gap to the downside, down 10 and 42, 25. This is the thing that I'm most worried about. That even though there have been so many stocks that have been just lambasted, this is a stock that was once in the 116, I think it was, 15 or 16. 114.89 was the high back in November 2021. And here it is. 42, it hit 40 this morning. It had a low, just under 40 a week and a half ago. Everything is getting docked. Let's see what happened to docusign. Docusign also turning around. It's at 72. It's trying to make an arch formation. This is really important. If it breaks under 70, that's just not a good sign at all. It's at 72. This is a stock that was at 314.76 back in August of this past year. It's quite, sharpify, sharpify trading down again today, 338 down 30 and 8% at 337.39. This is a stock that was at 1762 back in November 1762. Sounds like a date we should know. Yeah. So this is really a very important thing. So a couple of questions came in that pertain to over the evening period. And let me just show you something here. And please, I'll just do me a favor. Give me a yell to say that because I'm going to try to restart my computer when we get back. Yes. Yesterday, I really didn't sound like a bull. What I was saying is that on a very short basis, I was very, it was very positive that we had that follow through. And then the question always comes in. Five times we've had Chapman Wave. Yeah, let me just go through this again. Five times we've had the Chapman Wave Roman candle or a variation of it. And I just need to check here. He's actually going to give me a minute and a half to the break. Thank you. Just yell at my ear and just tell me it's all over or whatever. So we're looking at the Dow. That was a very good candle, but we've seen this before. And what I said, we've got to see what happens on the second or third session after the rally. And that's where we are. So with that said, I'm just going to say the Dow is down 428. This is really very ugly action. I don't want to do anything other than to say that. That is not good. In the big picture, it is still, the month of May is a little bit young only because what we're looking at is the... Let me see. Can I get that in time? Yes. That's the monthly chart. It's gone from $6,952 to $30,635. No, it went to... Yes, $635 in all this time with the most terrible use that we've had in years we've had accumulation. All right. We've got the break coming up. Folks, this is Belza chapter. Time conditions are...  I have to try something to get this working. 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Amazon trading at this particular point. Let's go to Amazon. Amazon is trading at a new low at down 85 at 2065. Google is trading at a new low down 169 at 2064. They've got Netflix. Netflix. Not at a new low, but at 178 it's just off the low and it was once upon a time $700 and now it's $178. Not a good sign. Apple. Apple is trading at 138. It's down, but it's off the low that was made at about 134 the other day. It's at 138.40 down 473 and 138.36 Underneath the Chapman Wave inside track support level is now repellent zone and actually tried to get there yesterday and then it got repelled. Putting that together, this particular chart here on the right in the middle, that's the weekly chart. Look at the GDX. The GDX had this vertical move straight up. It was like an inversion. There's the same pattern that we're looking at, the inversion of the falling ax. Then it ran sharply to the 41 area. It plummets down to 29 and is now trying to stabilize. Remember what I said? The 200-period moving average was such a support and then it became such resistance at 34.25. Now what it has to do is it has to see the nine-period cross over the 14. It hasn't done that yet in the daily chart for the GDX market vectors gold minus ETF. And it is able even to get to the 33.58 level all there for a little while. There's a good chance that it's going to be able to try for 34.25. Put that together with the DXY which is the dollar index and the dollar index is down 26 ticks at 101.82. Not a big deal when it was at 105.01 just the other day because it's had such a spectacular move going all the way from the 90 area to 105. Now it's under duress. And if you look at the EURUSD which is a euro-dollar currency pair that is a strong move. That in fact has got the stochastic almost at 80 percent. 79.32, the MACD is good and the nine-period moving average is within a day or two of attempting to cross positive. And that's the same to me that after the spectacular move this huge arch formation formed in the in the euro-dollar currency pair from the 1.063 March 2020 low to the double top of the 1.20s it came all the way down and broke underneath and then you have to wait. This is a weekly chart. You have to wait for a buy signal to go to a buy mode. We haven't yet got the buy signal in the weekly chart but it has gone above the left side low of March of 2020. That's the first time that it's done it with conviction. That's today and the week is Tuesday. It's not even, I mean we're barely into the week. So let's wait the full week but it's saying to me that there is a change in the context of the different currencies and if you're looking at the peak G that was made in the doji candle in the US dollar Japanese yen on the 9th of May at 131.34 we're down to 126.52 we're in a sell signal in the daily. That's all we get and a leg D going to a peak D in the weekly and a leg E in the monthly and that just says the dollar is probably going to be under pressure. I don't know how much gold would actually move to the upside but definitely it's formed the base and it's got key support and I think that there's a good chance that gold is going to at least hold very well but you need the GDX then you need the gold miners to participate. If you're looking at the XLF had a very nice session yesterday fading now at 13.32 not good. There's the arch formation in the weekly chart. This is just not good action at all. So there has to be select spider fund I did the SMH's let's go to the questions have come in. Oh, yes, could I look at the IYT the transports transports horrible session today down 6.34 to 18.58 to 16.06 was the law of Friday. This is not good action in the daily the weekly or the monthly in the in the transports. So the question came in what about the weekly chart of the Dow where are you where what's your stance and the answer is I have to still consider that it's trying to form some kind of a base. The Dow is the strongest of the different indices and I'm using it just as a benchmark to say that within the context this is what we usually for the subscribers we usually are trading the diamonds or the DOG one of the long over shorts and this particular instance we are still long the diamonds I believe I don't want to talk out of turn and you just see I know I don't know if we are still in it because I changed the parameters. So within that context all I can say is I'm not the reason why we've got this big amount of cash is because I do not like the market at this particular point I didn't like it for a long time but I don't yet want subscribers to be putting a huge amount of work money to work at this particular point just keep it as trades more importantly what we're looking at is if there is a failure today into tomorrow Wednesday the Fed speak day by the close of tomorrow I think we're going to get a tremendous amount of information over the coming two days why because look the QQQ has in fact now it's gone for even longer it's maybe got another 30 minutes gone halfway below the WIC that's under 185 the WIC of Friday it's there let me just look at the 120 minute chart that'll tell me a little bit more yep there it is so this is now all of this candle no I can't do that I have to go to the 10 minute chart can you let's see I'm going to move back to you I just can't see everything at the same time is this a new one 1037 a break is there another break coming just let me know please so what I'm looking at is in the 100 we did the 120 we'll just go to the 10 minute chart if you're looking at the what are we looking at we're looking at the no we're looking at the QQQ yeah look at this the Q's have been under 285 for in this segment it's got to be 1034 but this is 1010 I'm going to give it to for 11 11 use this as the last 10 week sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority and technical market analysis. 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For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices.  First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com. Educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years' experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 Newsletter today. TFNN.com. Educating investors. 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. Hi, folks. We're back. Basil Chapman, Tiger Technicians Hour Delta 477 and this is the uglyness that I said I didn't want to see because it looked as if we were just trying to form some kind of a tradeable load. It might be, it hasn't taken enough loads of Friday, but this is a very ugly action. What we're looking at within the context of there was a PD in the 120-minute chart, yes, but thank you very much. All I'm saying is that I still believe very strongly that cash is king and that you will be able to put it in. Let's say you missed the exact load. Let's say the dow is off 59 points and now you've got one. This is a big deal. You get the trend to the outside. You start to put money here. If you're wrong on the downside, unless you have very tight stops, you're just doing trading. You can sit there and go to another 10 or 12 percent of the downside, but no one needs that. Just as I said, now what I am impressed with, we had Amgen, we were out of Amgen and this Amgen has helped so many of these policies. This is a leg B, trading up one at 50.04. If you're going to jump back in, just didn't do that. Now what we're looking at, if you're looking at Merck, Merck is above this in leg D at 94.04. This is a sector that's been really, I'd like to say on fires. I like to use too much markets. This is where the house is in. We will fly recently. This is really wonderful action for the PPH, which I believe PPH is. In fact, this is the pharmaceutical. Oh, isn't that interesting? The fact that the pharmaceutical PPH is not doing anywhere close to use well as some of these things. So it's sector selective. You've got to be careful. I believe that oil is good, very well. It's good for the eyes, back and forth. It's good for the ears. It's good for the nose. It's good for the mouth. Happy.


as far as setbacks or? There's zero setbacks in this particular district. So with the setback issue, there's none. And when we get to this issue, when we get to site plan, we have multiple legal opinions dealing with this issue. Okay, a minute. Yeah, at this point, I guess we're just looking at lot two. I just, I don't have those in front of me. Yeah, yeah. Not this application. Perfect. No, thank you. So I know that they're members of the public. I don't know if anyone had any comments or questions they wish to come up. If you just come up to microphone, introduce yourself. I'm Sandy Vitztum. Is it working? Yeah. Yeah. It's mostly for the recording. Yeah. And I am part of the group called the Montpelier Heritage Group. Our purpose is to preserve, protect and advance a sense of place in Montpelier and that can include streetscapes, actual buildings, historic preservation and all of the other parts of the vitality that think of the sense of place. We are really glad that the city has been so carefully following and reviewing the development so far. This is a huge investment in the city, right in a key part of the city. We remain concerned that there may not, in the effort to keep this going, that there may not be a really thorough review of a lot of details and of things like the streetscape. I was so happy to see that you're beginning to develop perspectives. I had some concerns when I looked at them about relative elevations. They used to float balloons to actually make sure that things were accurate as a way to prove that the perspective rendering is correct. And it's hard to compare an occupied building like the Plaza with a parking garage. So it might be really useful to have balloons or something because the floor-to-floor is different. But I know tonight you're actually speaking about the subdivision. And I have a couple of very innocent questions because I didn't know. I'm just sort of in general curious about the subdivision. I think the zoning ordinance kind of discourages people from making non-conforming lots, right? So what this would accomplish being a conforming lot? Good. Yep. I mean, some of the issues that we're raising and Meredith, if you want to... I mean, the big issue about whether or not this would be a conforming lot is the frontage. The frontage needs to be ironed out. Well, the other thing is I'm just thinking about the parking garages that I've been to, the ones that are easier to use and the ones that are scarier to use. And it seems to me that they work well when they're on a street. And I was trying to think of my mind, what is a street? A street is it has something that has kind of people going both ways. It has a destination at both ends as opposed to an alley. The alleys can be a little bit scary and also be harder for people to find their way through if they're new to town, like people visiting a hotel. So I'm confused, and maybe this actually might be the best drawing to explain my, or help me fix my confusion, which is, is this the road? Is then L shape, is the quote street? That dark shaded areas to propose that. And you're forming the corner because there's no way to get through to the Heaney lot to make it as through street. Not because the Christ Church Episcopal Loans. All that land to the east of that point. Okay, oh, you can't reduce the usable footprint of that. You can't make cars smaller so that the garage can get narrower, got you. Okay, so that is, there is technically a way through.  And it's kind of hairy driving just that path that you have now. Through the roadway. Yeah, I mean, I'm guessing that the new hospitality street will be a little wider and more street like than the back way through the capitals parking lot. Several things will be happening. One is that the finished grade will be less of a rollercoaster. We're gonna smooth that out so that it's a more continuous grade and not, there's some big dips in there. But there'll also be sidewalks and trees and curbs. So it'll feel a lot more defined as a road as opposed to now, which is it's one continuous surface pavement with different kinds of striping on it. And for instance, from your new garage to State Street, which comes out, I think, by the post office. Will that be more like a street with parallel parking? Or, I mean, well. We're showing, we're continuing to show the perpendicular parking here. Some of that is necessary to serve the commercial tenants in the Capitol Plaza building, the bank, most normally, but there's a hair salon and a barber shop and the state has office space in there. So those will stay as with perpendicular parking. But yeah, in terms of it being street like, you know, that's our goal is to have curbs and sidewalks and we've got a continuous accessible route that comes down along the side of that and to the garage and to the hotel building. So we have been working on that connectivity. When we get to site plan review, I think we'll be happy to talk about that in detail. You have a pedestrian way either in your property or along, because now a lot of people get from the ATM over to the farmer's market. I mean, the farmer's market's going. Down through there. But yeah, right now there's a pedestrian walkway through there. There's roughly eight feet on the north side of the parking garage to the property lane. Eight feet. Okay. And so there's plenty of room to put a sidewalk in there. Normally an accessible route would be five feet wide. That's something I would want to talk to the folks at the church about in terms of, you know, how they envision this all coming together. Because I don't know if there's a possibility that when they build onto the back of the church to put an apartment in, they may not want that feature for some reason. I don't know.  Yeah, and I don't want to resist any of that. I'm only looking out for them. There's another property that owner involved. So that's the only reason I'm adding it. So Greg, actually this raises some questions. Where the proposed right-of-ways come out at State Street and Taylor Street. Right now, these are almost like driveway entrances. Is the proposal that those would be more street-like in that they would be more almost like an intersection where the road would not be going essentially off of a sidewalk ramp, but would meet State Street or Taylor Street on its same grade. And have crosswalks and- Yeah, crosswalks. Crosswalks. No one's asked that question before. Yeah, we were planning on, you know, especially in Taylor Street, that intersection gets a lot of rework because the city's already started their project to address Taylor Street up. And so there's going to be improvements at that intersection. None of the documentation I've shown so far has shown that relationship changing. I would have to talk to our civil engineers about how that is and why. The only thing I know for sure is we would want to make sure that stormwater flows running down the curves of State Street didn't come down into the projects, like as there's a drop of grade down through there. Right. I assume you're doing some sorts of traffic studies because this really changes the traffic pattern coming back out onto State Street, which is already challenging coming from the back. Yeah, I had good fun getting into town tonight. I understand what my pillar's like at five o'clock, but a traffic study is being done. You know, a lot of the traffic that's coming out onto State Street, I mean, right now there's 208 spaces of parking on the Capitol Plaza lot. Plus the folks like Sandy and I who cut through the back. Right. You know, they come around. Yeah. Yeah, but those are valid questions that we should resolve. And along the right of way that heads up from the north from the parking deck towards State Street on the right side, the east side, if those parking spaces are reserved, is there a plan for a pedestrian circulation for them to essentially cross over towards, because most people that would park along where your arrow is and up, you know, would be using the Capitol Plaza or similar facilities. There's two questions there, whether or not these are reserved spaces. And I think I might have to defer to Sue and Bill on that because the city's been talking about. After we're talking about the spaces in the Heaney lot or the. No, no. Right where his cursor is along. So those spaces, well, I think some of them are in our field savings bank. We have to look at the ownership. One of the options that we're actually pursuing is that those would become city streets. We just didn't think we'd be able to have that all done in time from this process. So we decided to go for the deeded right away for to get this at some point, those may all become entirely city streets which we have more that long-term preference. But for now, this is where we're at. Right. Okay. Well, I mean, obviously it's about reserves. No, but, you know, as long as those, those spots do remain, you know, because we're changing the nature of that from really a driveway entrance exit slash cut through into what's going to be a main ingress, egress for a substantial parking deck. Whether there would be any type of either crosswalk or other type of. So I agree with Greg. We hadn't really talked specifically about the crosswalk at State Street that becomes a street that makes perfect sense. I don't know why we wouldn't do that just to signal that that's what it is. And I think, you know, to the Greg's credit there, that his current function is to provide his access to parking. Right. And with a very kind of meandering route through. So while there will be more parking, we'll also be a better defined route and more parking organized in and out of that parking. One of the things that he mentioned earlier too is the idea that exit from the garage onto the Heaney lot, 60 State Street. We're looking at that both ways, either as a regular exit with the exception, say of Saturday mornings when the farmer's market was using that portion and closing it then or as only an emergency so that, you know, also could help disperse the traffic a little bit. Thanks. Any other questions from the board at this time? Is there Steve, did you wish to come up to the mic then? Steve Whitaker, Montpelier. I have spent a lot of time studying the different iterations they keep changing. I'm gonna have a little bit of a challenge to keep narrow within, but they're straight outside of the site planters, sub division as well. The setback from the North Branch is gonna be a fundamental defining characteristic. That bank is ambiguous at best right now. The top of the bank and the bottom of the bank are some eight to 12 feet of difference. So the distance from the corner of the garage right there, yep, right there to the river is, I stepped it off at about 19 feet, but you're trying to move a very heavy garage so I think the development or view board is gonna need to require a clear marking survey quality aqua engineer, water engineer to define what's the riparian boundary there. Traffic I believe is gonna be the Achilles heel of this because you keep hearing different things.   Not only within the two easements as you're calling them, but where they enter Taylor and state as well. I predict that if this garage does go through in this location, which I object with good foundation, you're gonna end up needing to take the Haiti lot possibly by any eminent domain and turn that into a full street with a stoplight out of town because the number of times that these spots cycle from previous parking studies, which the city has conducted during a day, multiplied by the number of spaces in it, multiplied by the other congesting traffic perpendicular in most cases is gonna be a royal nightmare. And yet the city is acting as the developer here and not no longer the regulator. And so the typical due diligence that in skepticism that it would be applied by officials, employees of the city may not be brought to bear and it may fall inordinately to this development review board to investigate those. I wanna quote one line from 3505 where the purpose of the district is to maintain compact and walkable, emphasis on walkable. And then little II per end two, to connect to and extend existing streets, sidewalk path, trail, utility greenways and open space corridors to the maximum extent feasible. So this runs directly contrary to that in that coming down through the Haiti lot, there's talk of allowing a bike to get through and get around to the rear entrance of the garage through a little ramp where we just described coming down through the Haiti lot, surrounding that back corner of the garage and a bicycle storage rack or get into the garage there. There is so far no plan to connect that bike, pedestrian access to the new bike path bridge and walkway that extends across Confluence Park and continues on to intersect with the others. That has varying causes. I think security of the garage is one, but there's a retaining wall there that's not represented as showing a rail that kind of creates a moat type atlas environment in a flood situation. How those trails and that traffic flow, the Confluence Park is really gonna be meaningless if it's hidden behind this garage and inaccessible. If you have to go through a 50 foot urban canyon that's only 10 feet wide between the hotel and the parking garage and then turn southeast and go down and cross at the bike path to get to that teeny little posted stamp park, nobody's gonna bother. There's not gonna be any more view of the Superior Court building, Capitol, City Hall, any of our church steeples. All those views will be blocked from that Confluence Park. I'm just throwing a lot of cautions and I've written some of them in a kind of an imaginary walking tour of how this would create so many obstacles. I really think that we need to be very rigorously skeptical and challenge every piece of this location. This location is set by default by a prior permitted project that couldn't get insured and then shifted to city ownership. So there may be an attempt to bypass development or even more approval due to it being a city-owned project. So I just want to caution you that this is very high stakes, 40 year, $16 million with interest. The stormwater wastewater treatment is not accounted for both either for location, brake dust, rubber, filtration, any of that, those systems are not, the green wall costs were not factored into the payback estimates for the, we're getting into next weeks or two weeks from now. You heard that 100% of this parcel is paved. That's not true, because you saw the contours. There's a good section of that gray section in the middle of the garage. That's absorbent dirt and grass at present because I scamper up and over at it during the farmer's market. You saw an elevation model of it that showed the garage well below the railroad bridge. The railroad bridge is at about 30 feet elevation, the top of the railroad bridge. And this is gonna be 50 something feet. So how the garage appeared lower than the railroad trestle is quite baffling unless the. Right. I think the board made a comment about that as well with the balloons that it's often perspective. Well, I mean, it's a point well taken that sometimes when you look at this kind of perspective, it does have that appearance, but we don't know what it looks like in the balloons. And you know, Steve, from cell tower cases, the balloons are often the best way of determining the actual height as it appears. In fact, there's a couple of weights sitting there that nobody unused behind the video console that could anchor those balloons. So I'm happy to cooperate on putting those up and measuring and verifying the proper length of cable.  It's gonna need to be further. It's gonna be a wastewater treatment because whatever gets left gifted in the garage ends up in the wastewater in the stormwater. And there are no public restrooms within reach of this. And that's what most of these garages have that smelling like. I think most of the rest can wait. And I will provide you with some written stuff that will help prompt your questions and refine your questions for next hearing. Thank you. I would ask you, I did read that you can require a traffic study. I believe you're gonna get less than a full traffic analysis especially based on the parking anomalies, the perpendicular parking anomalies that surround this whole project. And that you're gonna need to insist on a full traffic analysis because if this is gonna end up requiring a full street and or new traffic signals, that's gonna fundamentally change the character of Montpelier as a pedestrian and walkable city. Thanks. Any other questions from the board? Can I just say? Yeah. If everyone who spoke tonight can please make sure to put their addresses down on that form, sign in sheet. I'd appreciate it. Thank you. And that's for mailing purposes, is that right? Yeah, that's for mailing purposes. Okay. Claire. Permitting an Act 250. So this is being developed separately from the hotel but when the hotel gets Act 250, is this part of the Act 250 application? The guidance we've had from the district coordinators that they wanna see one application covering all of it, we would have preferred to come in with two separate applications but nonetheless, it's our hope that the project will be reviewed under Board Rule 6068B, which is sometimes called the off-ramp. We're collecting findings from various state departments right now, several of them are enumerated in the rule, but we hope to perfect an application for to the District 5 Commission to have findings on this that a permit's not required as part of a designated downtown. On the parking garage? On the whole thing. Or the whole, oh, okay. On the whole thing. And like I said, we would have rather processed two separate applications. We got a jurisdictional opinion from the district coordinator that the hotel room is a dwelling unit and so there's more than 10 rooms. It would have to have a permit. The city's parking garage, absent anything else, shouldn't really require one because municipal facilities are exempt but they're seeing it all working together and so I think the minimal process laid out in front of us is more than adequate. So much of the Act 250 criterion don't apply in an urban lot. There's not an issue of forestry or prime ag soils. So we're getting the letters and sign-offs on that and hopefully that will be processed sort of on a parallel track with this set of applications. Great. Any other questions? Yeah, Rob. So there's been some discussion about the river setback. I was just wondering if that was something that if you had a draft survey plat, the next meeting that that line was going to be shown and determined or have you already. The drawings on civil engineering associates, title block, including this one, are the result of a very detailed survey undertaken by them. So they, I mean, we can bring the worksheets but the top of bank was defined as this first dotted line here. This parallel line to it, this heavy dotted line here, is the 20 foot setback required in this district. Okay. And according to your rules, roughly 50% of that can be covered up. The only part of the river frontage that really belongs to the project's down here because there's a property corner there and all of this belongs to overlook partners. But I'm supremely confident that our surveyors have adequately identified the location of that top of bank. Absolutely. Okay. Unless there's any other questions or concerns, I think this will conclude site plan or sketch plan, sorry, long night, sketch plan review for the city of Montpeliers parking garage project at 100 State Street. And given the new bylaws, we don't have to actually make any motions or review anything to determine the next step of course would be the actual site plan and final final plat review for the subdivision. So thank you all. Thank you for your time everyone. Yep, thank you. Okay, the other business for this evening, the next regularly scheduled meeting is Monday, October 15th, 2018, 7 p.m. Same time, same channel. Okay. And probably same applicants. Any other new business? Yes, this question from Meredith. Are there draft findings that will be filed? My understanding was they would be circulated among the board members before being finalized. Am I correct in this? So it's something that we have done, I think when we have had decisions where there were questions on how they were dealt with. We weren't necessarily gonna do it with all of them because it wasn't necessarily something to discuss where we were gonna do that with all of them. Well, with regards to deliberative session, this is what I thought about. I don't believe that we've seen those draft decisions circulated among the membership. So, okay. And I'm asking that they be circulated. Sure, I mean, so I think we were going under the understanding that as in past practices that if the board had decided a certain direction that the chair and staff would draft it up and I'd sign it. And so we haven't been circulating those. So that would be. So for example, the school issued, did you issue it Friday? No, I haven't had a chance to. I was working outside of normal hours. And we can still share that one. We can still share that one. I don't wanna make this an additional burden, but I do think it's important. That's fine. To solicit the board's input. And if you don't have a comment, you don't have to respond. You can just make the assumption that 24 hours to review or whatever some reason that we're talking about. Okay, so yeah, I'll either give a set time to review. Yeah, I think that's perfectly legitimate. Okay. But I do think it's important that the board have a chance to do a walkthrough with the draft. I think that makes sense for the deliberative session. Yes. How about talking about it? Okay. Right, for example, like the decisions that we issued tonight, essentially Meredith will help draft, I may do a final review and then sign and issue those. I really am focusing on the deliberative. Okay. Okay. And then, as you've seen in what we've circulated one, two others, that really the staff report as much as possible is the first draft. So, okay. And you do a great job on that one. Thanks. Okay, so. I have a question that maybe is followed up on that. And I'm just curious on how Montpelier does it. I know it works different times. When the decision is made here, is that when you consider the date of the decision or this is the decision of it is when you sign it? Because I think, I've heard there could be a bit of a tricky, when did you verbally approve it versus when do you actually sign it to when it's actually approved for the 30 days? I was curious on how you have it. So, the decision in here triggers the 45-day window for the decision. For a decision to issue. Yeah, for a decision to issue. For deemed approved purposes. And then the actual written decision is the trigger for the 30-day appeal period. When that decision is signed, the signature date on the written decision is the beginning of the appeal period. So when they leave, I just wanted to make sure that when they leave here and they're verbally hearing you're approved, they're not thinking, oh, that starts my 30 days. Like, that 30 days doesn't start until they actually get the paper in there. So that's a gap. And that's why we had the clarification for the first application, that they need to wait for the permit. And that lays out clearly for them when there's a date on there that says when the appeal period is over. Okay. Any other? I'll take a motion to adjourn. Motion by Kevin. Seconded. Second by Tom. All those in favor, please raise your right hand. We are adjourned.


And the question I have for the candidates is if they could give us some idea of how they intend to attract a new business and at the same time expand our tax base. Good question. Want to go ahead, Maggie? Sure. I'd be happy to. That is precisely what we're working on right now with City Center. That is the biggest reason I have been running for these past five terms and now the sixth term is to really develop our commercial but also residential art, what we call our mixed use core in City Center. And we have new developments going up there that are already paying themselves back and helping us keep our tax rate low. We also have new developments along our transit corridors if we look at Route 7, if we look at Kennedy Drive, while some of these developments have of course stirred some controversy, I do think that they, because of their placement, they have served our tax base very well. And what I see is really key right now is making sure that these new residential developments remain close to those transit, those high transit areas. If we spread out too far, we are going to be placing a strain on specifically our public works. Our road services, our plowing services, and this is something that our public works director has spoken very clearly about. Ken's question about expanding our tax base, yes, very important. We have something that is of tremendous value here in South Burlington, our natural resources, our closeness to the city of Burlington. South Burlington and Chittenden County in general is the economic engine for the state and we have a real great opportunity to grow, whether it's using our existing city center, our downtown corridors, thousands of people travel through our streets every day in order to access the hospital, UVM, Burlington, points north and south on the highway. And we have a real opportunity to redevelop some of these areas and do it in a smart way, a way that's sustainable, a way that we have transit, that we have bus service and bike paths and be able to walk creating a dense downtown or residential urban environment would have great effect for our economy. And also, Bailey will use the airport, I toured an amazing facility in South Burlington just the other week called Beta Technologies where they're developing the transportation for the future and electric battery powered aircraft being designed by engineers right here in South Burlington. Businesses like that, high tech, high paying jobs are the ones that we can attract here and we do have room to grow. We have an industrial sector zone that we can absolutely increase and with that brings more challenges, of course, more issues regarding traffic and infrastructure, but we're ready to meet those challenges to grow our grand list to expand our local economy and I'm excited to do it.