 News Network. T F N N headline news update. I've always found a trap in here. We're looking at the E-mini which keeps testing the lows. This is going to be a problematic session because after yesterday we were anticipating a normal rebound but we haven't got any normal rebound at all. We've got kind of a mixed market where some things are moving. I mean look at look at the difference between the Dow which is now having a very ugly 162 point continuation pattern from yesterday. This is what you expect when you've had a kind of a distribution six days, tiny little candles and then you break down. This is where that nine period can start to get very close to breaking under the 14 period moving average but it's already look SPX.X there we go. S&P also very close to breaking getting close to the 50 period moving average of 40.50 but the QQQ already has gone pink. In other words that's even though there's a nice rebound today it's still up 272 at 312.70. The technique that I use says that this is starting to see deterioration. That's not a good sign. IWM has been very weak. It's down a dollar at 171 making that arch formation that I like to talk about. Now the big thing is gold. We're going to be watching gold very closely. It's still holding within a very decent pattern just sideways off the fabulous move up. If gold closes any day it doesn't have to be inch a day move but it must close underneath 19. I would just have to say 1973. 1973 a close under that says uh-oh now it's going to continue this digestive phase and maybe the dollar can have a little bit of a bounce. Now it's down the dollars down 39 ticks better than it was but not a great pattern at all and bonds US bonds bonds are down a little bit. They're down a half a point at 131 2130 seconds stalling at the 200 period moving averages. That's how important these moving averages are. It's been there stuck there for over a month and look at the rectangle formation and crude oil pullback from that 200 period moving averages down dollar 35. Heading over to great programming rest of the day don't forget and don't get Tom O'Brien wraps us up at 3 o'clock to 4 and Tommy O'Brien starts off 9 o'clock every day. Check out my opening call my daily newsletter and my one week from today we'll be doing a webinar for subscribers check it out front page of TF and have a great rest of the day