 headline news update good afternoon folks Steve Rhodes coming to you live in the shores of sunny Delray Beach Florida this is your 2 p.m. update couldn't get all the U.S. indices trading to the upside that I was up 328 about 1 percent S&P up 75 one and seven tenths percent Nasdaq 100 about 390 to an half percent Russell's up 13 a half a percent some eyes up 332 points 3 and a half percent there the big winners out here and let's go spend a few minutes take a look at our market indices charts out here let's go ahead and change screens in a moment you will see in the white populated screen in the upper left the Dow Jones industrial now the Dow here I would suggest to you and I that price might go target 34443 out there but that means we'd have to not pay attention to an important pattern that I'm going to share with everybody during the segment that I do with Tom and about I think it's about 315 320 sometime around that time frame so at this stage here what I'll share with you is the Dow has very likely bottom at least for the short term the S&P 500 wealth the Dow's bottom than the S&P 500 is like the bottom as well the pullback is still above its breakout level 4551 so no damage done there there was certainly damage done to the Dow Jones but no damage in the case of the S&P 500 the same as the case with the NDX 100 no real damage done there real damage would have to see a close below 15578 that is its breakout area did not the case Russell 2000 which looked horrible compared to the others all it was really doing on the cash chart out here was pulling back the test its breakout level 2244 and that has held you do see bar number seven out here but if the Dow and the NDX 100 the Russell may make a lower low maybe it doesn't tomorrow out here to cement a TD9 count bottom the semis right now if price can close above their green oscillator and change line which is what it's printing into right now that level is 388578 388578 we're 3887 right now close above that says that the semis want to go back and tag that all-time high which was that bearish engulfing candle that is the resistance level what it's it would suggest to you and I that price is going to go at higher the transports have really just been trading sideways that spot ball totics is likely on its way to its 50 day exponential moving average of 1833 currently printed a 2216 out here in the spot ball till next continues to find support at its breakout level of 130 32 folks stay tuned David white with the power trading hour he's up next he's your favorite polar bear after that Tom O'Brien he'll take us on home again I'll join him at about 315 320 today and we'll take a look at that very important pattern but when I share that with you and I've shared in the past we don't take a look at it too often but I share it with you you'll start tracking it on your system as well Steve Rhodes with TFN and have a marvelous Monday folks we'll see you tomorrow