 headline news update. Hi everyone Basel Chapman here on this Friday last day of the week October the 8th and we're looking at the Dow unchanged right now 34,754 you can see this technique that I developed over the years the high of 35,631 on August the 16th in the Chapman methodology with a little V-shaped pattern but with a lower high and that created a little mini down channel which I call Chapman Wave inside track repellent zone and the Dow each time we try to spike even yesterday went to the little red line there couldn't get above the green line stored at the red line and pull back I actually like what's going on here at the moment because I think that that second arch formation is still in underway I think we've had a rotational correction when I hear reports I think there's a lot of nervousness out there and so we've taken off all the short positions we have only long positions we've had two new positions that have done very nicely I I think that overall this is the rotational correction is still under way but as I do my show coming up in the Tiger technicians hour in a few minutes time you'll see that there are actually many positives so it'll be surprises to the downside with really bad reports economic or whatever it is that really takes drags the market down to retest for the for the S&P trading at 4,406 right now up six points it hit that trendline and it's getting close to today Howard breaks above it getting to the 4450s is going to be key next week maybe today but maybe next week but certainly the gap supporting to the 4370 4365 areas really important to hold now this is going to be very important look the QQQ is struggling right here it hasn't even gone close to that trendline in fact hasn't gone to the 50 period moving average at 362.75 down a fraction got to watch this one closely because I still believe that the big tax is still digesting gains IWM Russell 2000 holding okay not showing really great support is that up 25 cents a 223 55 I like it in terms of its holding pattern but look at this golden a nice spike to the upside cannot keep it cannot hold it it's up 14 and 1774 I think the 1717 88 to 1792 level will be a real test for it and crude oil is still holding quite well I'll be back in a moment for that oh crude oil is up again I'll be back for the Tiger technicians out