 headline news update good afternoon folks this is Steve Rhodes coming to live from the shores of what looks like is going to be a rainy delray beach florida with your two p.m. update and currently we have a bit of a mixed bag out here you've got the dow in the s&p up new york stock exchange is up just slightly dows up 31 the s&p's up nine nasdaq is flat it's off two points russles down 15 points seven tenths percent some eyes off four points they're basically flat out there you've got the gold is trading up 15 bucks 1938 50 silver's up 27 pennies 24 73 lights we crewed off 56 pennies trade at 95 68 natural gas up 28 cents the 30 year treasury down one point and eight ticks 14406 is the print so let's do this here let's go take a look at some of our play by play stuff see exactly what's going on right now so we can leave you with this we're looking at our 30 minute time frame charts for the equity future contract so what do we have out here well yesterday at about three o'clock four o'clock you had a nice roadsman to indicator bottom and since then we've basically been trading in a consolidation range out there now the cool thing I don't have that consolidation measured off it's about 44 97 to about 44 48 so what do you got about 50 points give or take that says when you if this breaks a consolidation you should expect or anticipate a move equal to or greater than a consolidation now the break of that would be a close above 44 96 75 you've got a TD nine count bottom that also formed this morning that is held so watch 44 96 75 that could be where this rally peters out we take a look at the NQ out here really similar although it broke through yesterday's roadsman to indicator bottom signal wave number seven and I don't have a bottom signal out here as we speak but nonetheless if the NQ is able to close above 14 643 50 to be exact that says we've got more rally TD nine count bottom inside the Dow the Dow is quickly approaching its next resistance level 34 506 you close above that and what the Dow should do is make a move the Dow equity future contract that is make a move to 34 608 Russell 2000 TD nine count bottom inside a bullish structured profile above the center of that profile above the oscillator and change line the Russell 2000 is going to make a beeline for 2015 80 but just above that is the next resistance zone that's 2025 10 so here's the deal if you close about 44 96 75 in the ES you close about 14 643 50 in the NQ 34 506 no im in 2025 10 it says rally on folks stay tuned your favorite polar bears up next I'll see you tomorrow on fantastic Friday have a terrific Thursday folks