 The Tiger Financial News Network TfN News Update Good morning everyone, Basel Chapman here on this Monday the 5th of February. This is the TfNN Tiger Financial News Network, 10 o'clock market update, dials down 202. A 38,455 big question is going to be does it make that leg D or is this it? With a high of 38,783 from Friday. The S&P, here we go, the S&P right now is at 49,44.96 down $15. The high was in a leg D on Friday and that went to 49,7529. The QQQ, here we go, QQQ is in a leg E. It made a new all-time high on Friday at 430.24 and today it's at 428.03 down 95 cents. IWM, the Russell 2000 small caps, down three and a quarter at 191.18. This is going to be the story, you've got gold down sharply, gold is down $20 at 2033. Why is that? Look at the dollar, the dollar is our dollar is up sharply, it's at 104.38 of 42 cents. That means we have to look at the bonds, look at the TLT, the TLT is down sharply, the yields are going higher, the TLT is at 94.50, that's minus 1.57. Let's look at the crude oil, crude oil right now, CEL continuous contract is down 63 cents at 71.64. Let's look at the volatility index, the VIX, and that's a measure of degree of nervousness. It's only 17 cents at 14.02, but it did hit 14.44 earlier on. If it starts to trade on a closing basis this week any day, I would put it at 14.88 to 15.20. That's a what with a down, down triple digit and the S&P really needs to be down about 48 to 52 points. That's a problem. I'll talk about it when we get back for the target efficiency hour coming up in a few moments and check out Park and Cole's daily newsletters here in the field.