 TfNN headline news update. Here's Tom O'Brien. Welcome folks to the 9 a.m. Update. I'm your host for this segment here, Steve Rhodes. Right now, equity futures are basically flat. You've got the Dow futures up four points, S&P down three ticks, 0.75 out there. NASDAQ is off 12, Russell 2,000 off a point. So no real clear message from the equity futures markets as far as what their intention is as we have a flat market. U.S. dollar index is up about 20 pennies. Right now, trading out at $96.87. Gold is back $7 bucks. So that's trading at $12.88. With regard to gold out here, it's possible that it's in the process of forming a bottom. Last time, it formed a top. It was doing so with less relative energy and a Tommy DeMark set up nine count. It was on bar number eight, which is where markets can begin to make a change in trend. Clearly that was the case. And right now, and many of you may have attended Basil's workshop last night, and so you'll be familiar with his wave number seven, I believe, that is letter G. And that's what the gold contract, this is a five-hour timeframe chart that we're looking at. This is also, this is Stevie Wonder singing in the key of G, this is also where markets can make turns out here. So watch gold. It's possible that gold is bottoming out there. Now, we may see a lower low. What I mean by a lower low is a seventh wave can extend in as long as price does between now and two o'clock, close below $12.87. Then just simply that seventh wave would extend. So there's two potential bottoming patterns for gold as we speak right now. What's needed is some type of bearish reversal candle, and certainly at least a close above $12.90, $70. That's what I refer to as Stevie's red line out there. What else is it that you want to watch? By the way, gold itself is kind of perplexed right now because it's moving lower. It's made a lower low in terms of pounds, but hasn't done the same with yen, has not done the same with euros with regard to major instruments you want to understand how they are trading in all of the currencies out here. Because when they trade lower in all currencies, you've got traders around the globe that are sellers. When they trade higher in all currencies, you've got buyers around the globe. So right now, what's the message of the markets? They're still bullish, but always keep your eyes open because there's a bear hanging out around the corner. Have a great Thursday. I look forward to seeing you sometime soon. Take care, folks.