 headline news update good afternoon folks this is Steve Rhodes coming to you live from the shores of sunny delray Beach Florida this is your 2 p.m. update and currently we have a mixed bag out here you've got the Dow and the S&P up 206 and 16 points it's about a half a percent and four tenths a percent to the downside the Nasdaq off about four tenths off 57 points the Russell is flat the semizer off 21 trannies up 327 goalie locks off 45 bucks 1806 looks like it still wants to head lower Silver's off 59 pennies trading at 24 19 let's go spend some time with our cash-indici charts out here momentarily we'll get over in the upper left-hand corner you'll see the Dow oops that's not the chart this one here you'll see the Dow in the upper left-hand corner so what do we know about the Dow we know formed a TD 9 count top bar number 8 price on Friday got all the way back to its breakout level of sport 35 545 that's a key area price for to close below it that would suggest to you and I that price would move lower lower to where we 34 430 34 443 would become its next target that is not the target right now support has held there's an A to B equal CD to the downside if we saw both reversal candle today it would confirm a Gartley by pattern the S&P 500 it has a TD 9 count top it has a roads momentum indicator top out here so it's got two topping patterns are in place but they could negate those at the end of the day but right now the topping patterns remain if you take a look at the NDX 100 it is now joined in it has a topping signal as we speak it had a roads momentum indicator signal so far today's bar is going to be a bearish and golfing candle likely the outcome but what price has not done is not close below its oscillator and change on it 16 449 if we're to do that at day's end that would tell us about a signal change and likely a further move lower inside the NDX 100 the A to B equal CD pattern is nested strong in by those blue diagonal lines on the Russell 2000 right now that is a bullish reversal candle it is called a key reversal bar that would be confirming a Gartley by pattern but you'd really like to get that same signal inside of the doubt but she's we have topping signals in the S&P and Nasdaq Stevie would you get it straight no those are the signals on the charts maybe it's just suggesting some kind of rotation if we take a look at the semiconductor index it too has generated a topping pattern today it is a key reversal bar at the state but price needs to close below that green line at 38 58 out there the nice move into transports but that's just to move up into resistance it's oscillator and change line out there and in case of the XAU it looks like it wants to go target its breakout level of 130 32 folks stay tuned David White is up next with the power trading hour Tom O'Brien he'll take us on home from three to four I'll be back with you tomorrow one o'clock sharp to it and then until then have a terrific day be safe out there we'll look forward to seeing you again soon