 Good morning folks Steve Rhodes coming to you live from the shores of well mostly sunny Delray Beach Florida this year 9 a.m. Updating we got us equity futures trading to the upside Dow futures up 40 points right now the Nasdaq futures up 71 the ES minis up 12 points Russell is flat you've got gold trading up $9 silver's up 55 cents that's a 2.5% move to the upside lights be crude trade out at 81 55 up 89 cents natural gas up 6 pennies you've got the US dollar index pulling back a bit it's trading out at about 103 13 looks like the year was trying to form a Gartley buy pattern today and the pound also trying to extend its rally so as we begin the morning let's go take a look at our nine panel market update chart we begin with the ES mini upper left hand side what we know about Friday is that price held a key level of sport that was a bottom of its weekly profile and that's up at the 43 77 level new profile attempting to form this suggests that this is just a counter trend move if that profile takes hold we won't know until the end of the day tune back in tomorrow but right now you've got resistance up at the 44 47 area out there that spotball totics is still above its 50 day exponential moving average as longer remains above that which is 1541 that can create real problems for rallies if we take a look at the end cue it closed below the bottom of its weekly profile it is also trying to form a new daily profile bug price that is a bearish message however for the day I'm expecting or we should anticipate a rally where would be the nice buy point inside the end cue if we were to get back to that level I'd say 14803 to 14789 I don't know if we get that low the reason why we should expect to anticipate this pullback that we've just seen here over the last you know hour is nothing more than just a gift why is it a gift or a potential gift because market breadth for the 30 and a 60 minute time frame for the Nasdaq is extremely bullish out there so the markets are in extreme oversold condition those it's over oversold condition levels come from that new york stock exchange advanced client oscillator panel number three here once it gets down below minus 250 which it did last week that tells us we've got to work off these market conditions this oversold condition and that is likely what is going to continue today so folks stay tuned you've got tom you'll brian coming up next have a magnificent monday please join me at the trader's ed show tomorrow at 11 o'clock sharp have a magnificent day folks take care and be safe out there