 D. F. N. N. headline news update. Good afternoon folks is Steve Rhodes coming to your live from the shores of Delray Beach, Florida. This is your two p.m. update and all I can tell you is that indices are trading lower of course it would be helpful if I put up a screen so I've had a little technical glitch out here and we're just simply going to go to our cash indices charts out here so I know they're trading lower just by looking at today's candle session but today's candle session depending on where closes is telling us something so right now you can see that price is below the red oscillator and change line from the Dow the S&P and NASDAQ 100 not the Russell but for the semis for the transports that's all that you need to know it's for the New York Stock Exchange and NASDAQ composite as well those charts are not on the screen out here so red oscillator and change line tells us that the price oscillator is below zero price oscillators a difference between two things in our case it's a difference between the 39 and 19 period exponents moving averages there's nothing more bearish than a falling price oscillator below zero that is the message when you trade below a red oscillator and change line so then what does that mean that means that we head back to support now on the indices out here really don't have support levels I would have support levels with regard to TD 9 count breakout and breakdown levels and we would typically go to the equity future contracts to look for those levels but here what we've got if the Dow close below 35073 that's given you a sell signal it suggests we had lower in the S&P 500 it's a close below forty four seventy five now that had lower maybe to just simply go back and test the January 24th candle it could be the high of the candle it could be the low of the candle out there it'll be dependent upon volume and you'll look at the volume for the spy the cues the IWM and the diamonds in order to figure that out the NDX 100 get trading below 14 511 that's the key number to be watching at day's end the Russell 2000 maybe just be targeting its oscillator and change line at 2000 even Steven the semis out here below thirty four five thirty four fifty eight suggest a run for that January 24th or 28th I can't tell which day it is the low is here actually can I can the 28th in the semis the transport so they're already getting pretty close to know they're already inside the low from January the 28th out there that's its swing point so folks day two two more great hours of your favorite polar bear David White he's up next at that Tom O'Brien he'll take us on home for the weekend I'll be back with you on Magic Monday have a fantastic fright