 news update. Hi everyone Baselchap and yeah this is the four o'clock close on Friday the 23rd of September and we're looking at a Dow closing down 483 points at 29,592 still below the 30,000 level that I think is really important it actually went down to 29,250 if you look at the YM is a better picture of it this is the futures we're right into this technique that I call the inside track propellant zone went under it and now it's closing just within it the YM needs by Monday or Tuesday to take out the high of today which is at 30,240 and that would that would correspond to the Dow high today of well the open was 29,955 in other words you've got a couple of days in which to close sharply above 30,000 in the Dow and that'll say hey at least a short term low is made I'm thinking maybe it comes in Monday if they're selling into Sunday night going into Monday morning we'll see what happens there look at the S&P the S&P that is the 500 S&P 500 also close a little bit this is actually a Chapman way Roman candle on the downside and that really says that if there is a close for two out of three sessions above yet today's high of 37,27.14 it closed out 64,3693 that says you could fill the gap and you could even try for the high of Thursday which is at 37,90.90 if today's lows are taken out Monday morning there has to be a V-shaped turnaround by the close otherwise it's going to be very poor action and the Kukuku's are within that inside track propellant zone closed down for at 275.90 IWM was also very weak closing down at 67 now this is going to be important because gold was very sharply lower and the dollar made new multi-decade highs at 130.02 but the volatility index we were talking about that just a moment ago volatility index closed under 30 at 29.64 after screaming up to 32.31 you see this Chapman inside track repellent zone of the weekly charge see every time it got into that line it didn't break the green line it closed below the pink line we've just done that Friday afternoon so this is going to be very important if the VIX anytime next week starts to trade in the 34s that's horrible if it trades in the 25s or lower that's going to be positive have a wonderful weekend everyone that's a Chapman sitting in for Tom O'Brien we'll see you all Monday thank you for being sharpening your