 headline news update welcome folks we have the now industrials trading up about 510 naziq up 454 s and p's up 94 gold gold contract up six dollars 20 cents trading at 1785 an ounce we got silver up 25 cents 22 dollars 48 cents an ounce light sweet crude up 237 71 dollars 82 cents a barrel notes and bonds the 10-year note right now down 11 ticks trading 130 10 30 year of 21 at 161 28 and king dollar king dollar up 45 ticks trading 96 373 euros 112 the yen is at 113 and a half and the british pound is at 132 to 1 us dollar bottom line folks you got a market that no doubt has juice behind it that being said my take on this is that this is a counter trend bounce and this is how counter trend bounces actually work when you're actually going to go lower the contraction of volume out here is pretty dramatic out here today so yesterday in the spy he did 95 million we're at 52 that's it uh you know the high and the spy is 473 we're at 468 so you're already into the low of the high so that tells me that yes the high is going to be tested but you get another contraction on this that's going to be a test and I suspect going to be a failure up at those levels pretty intense and the x100 it's the same type of setup you know if you take a look at the cues you're going to see um you know it's pretty it's pretty amazing they're up 11 dollars you get a contraction you have 38 million chairs yesterday we had a contraction we had 67 million so we're going to do like 40 40 well probably 49 50 million chairs um that's not enough to basically get to higher highs we're 397 399 uh is the lows of the highs inside the nasdaq we hit 398 46 out here today I suspect you're going to get into that level gold gold contract bottom line you get a sideways moving gold gcg so you get no I keep doing this gold sorry okay there we go so you get gold up 620 it's really a sideways move out here you got 120 000 contracts we'll see whether this baby can get over this little blurb up here gold's got to get some uh movement inside of it uh the dollar looks to me like it's going to fail so the dollar out here uh bottom line is teetering going sideways right now uh I suspect it's building costs a lower price stay right there folks come right back