 headline news update. Welcome folks we have the Dow industrials trading down five forty four Nasdaq is off two oh seven you have the S&P's right now down sixty two that's a down draft folks are approximately one point three percent the Nasdaq one point four in the S&P's and one point five in the Dow industrials gold gold contract down fourteen dollars twenty cents trading seventeen ninety we have silver off twenty three cents twenty two dollars twenty seven cents an ounce light sweet crude down two sixty three sixty eight twenty three notes and bonds a ten year note down one at one thirty one oh four the thirty year off twenty one at one sixty one twenty nine and king dollar king dollars down twenty six straight and it's ninety six five forty three Euro out here at one twelve yen is at one thirteen and a half and the British pounds at one thirty two to one US dollar we get over and take a look at the spy and what you have out here folks bottom line you're into the lower end of the consolidation you got light volume and I suspect what you're going to see here is a rejection of lower price we're still going to bang around meaning going higher and the next week week and a half that's how this thing's shaking out with the spy get down to four fifty one today your swing point is four forty eight down there we had a hundred thirty seven million shares traded only at sixty six so bottom line that's a rejection of lower price I think this thing's going to bang around again and move higher and the X one hundred there's a little trickier the N. D. X. but the bottom line is that the selling is subsided somewhat as it got down to the lower end of its consolidation the bottom line the lower end of the consolidation in the N. D. X. one hundred is three seventy eight ninety we hit three seventy seven forty seven it was coming it's coming into that with forty six million shares versus a hundred and five million you can see that that's not enough downward pressure volume wise in order to crack this baby what you do have with the N. D. X. one hundred however is that you are now in the lower range the lower range being anything inside three to two seventy seven puts game on for that three fifty number my take is three fifties coming at us that being said though I expect you to go higher once again before we pull back I know pretty wild and gold gold contract out here we have a gold the February gold contract you down thirteen sixty it's right in seventeen ninety one we're backing down out here and you're backing down with really light volume we're ninety seven thousand contracts out here as we went up on Thursday and Friday went up with a hundred sixty eight thousand contracts and a hundred fifty seven that's the way that you like to back down stay right there folks come right back