 Financial News Network. Update. Hi folks, Basel Chapman of this two o'clock Tiger Financial News Network Market Update. Thousand and three hundred and seven and thirty thousand five sixty seven. It's finally gone underneath the fourteen period moving average but the nine is still over the fourteen so that says either we're going to take a while to roll over for the nine to cross negative or it's going to hold well and we're going to have some news reports from one of the big cap tech stocks that just moves it'll have to be Microsoft or Apple because they're in the Dow. We'll see what happens in the meantime. Negative action S&P is much worse S&P is down not just point nine one percent is down one point three two percent taken out the first left side low of importance the nine period moving average is now getting closer to and it's got a way to go to cross negative but that's the reason why we've been talking about it taking up it's a process this turnaround that I said it's going to make an arch formation images draw this in right here if you check out my opening call you'll see that we're talking about all these different things and trying to trade them so we're looking at the weekly chart still very good but the S&P is turning down very sharply Mac these per it says that we went to the four thousand and eighty eight to four thousand eighty two support that I spoke about for the last few days as key support the next level will be the forty fifties we're going to be watching that we get to QQQ it's got a deeper correction going on because it's taken out the left side low of importance is now in the three leavens I said in the three under 309 now you start to look at something more serious so this is exactly where it's really important to start finding some support IWM to be very negative very negative down almost four we're looking at gold it's just so fascinating gold is holding very nicely it's up 10 2009 it's in within this rectangle the dollar just cannot really get legs yes it is up a little bit it's up point five three and one at one point ninety but until the dollar actually trades in the one or two thirty to one or two seventy area this is just a mere bounce we're looking at crude oil it was up earlier now it's down it's down dollar fifty stuck under the children's period moving average and this is going to be interesting because bonds are rallying sharply so yields are coming down but it's still stuck within the range so hold on tight the great program coming up I'll be back with time a little later in the three o'clock hour stay tuned take out my opening call my daily newsletter and I will be back of course tomorrow at Tampa also be at back with Thomas D 15 this afternoon have a great rest of the day see you soon the reality is that