 News Update Good afternoon everyone, Basel Chapman here for the 1pm Tiger Financial News Network Market Update. It has done 143 at 32,986, almost like a waiting game, waiting for some economic news or something just to say, hey, a little relief rally coming but it hasn't come yet and we're looking and I'll do this in the next hour. I'll be sitting in for Larry, Larry's still not good enough to do the show, he's feeling a little ill and I will do so. What we're looking at here is that the S&P is also somewhat weak and because of that, let me just do this here, and because of that with the S&P down 23, it's a little different chart formation you can see you see this orange line here 200 period exponential moving average. Just hit that about seven times in the last seven days, well six out of the last seven days and it is a repellent zone and it's struggling to push above it. It would need by Tuesday or Wednesday next week to be up at the 42,83,42, actually 43,00 level to say, hey, I've got a decent bounce coming and it hasn't done that yet. Look at the QQQ, the NDX100, NDX100, 2x249, 357, 32, that's the QQQ. It's a better chart pattern than the S&P and the weekly charts, only one that hasn't turned pink in the nine period moving average, so far that's pretty good. IWM, the Russell 2000, looks very weak, down 90 cents at 172, now we're watching gold because gold tried earlier to make some kind of a rally attempt, it was up a little bit, it went to 1843, now it's at 1831 with the low of the day, at 1826 on the continuous contract, really struggling and that's stochastic, flat at 1.86, I don't know what it's going to take to get into the teens, let alone the 20s where it will start to show a lot more strength but it hasn't got there and look at the dollar, the dollar was actually weak, it's down 33 ticks at 106.44, if it actually starts to get to 106.22, gold needs to move, gold should be up 4 or 5 dollars, if it isn't, there's something wrong with this picture and looking at the TLT which are bonds, bonds are down 32 ticks at 85.94, these rates are still pretty high and looking at crude oil, crude oil is down again sharp, we're down a dollar and a half at 32.6, I'll be back for Larry's trade what you see show for that hour, Basil Jaffman, we're back in a moment, see you soon in my service as the opening call and my show at Teletubbies at Tiger Tech Machines out.