 T F N N headline news update Hi everyone Basel Chapman here on this Wednesday December the 15th just about mid-month and we're looking at the Dow down 130 at 35,413 just underneath the 14 period moving average hasn't been there since it broke out Back was at December the 5th or 6th almost at date there right there yeah, since it since it broke to the upside on I'm not getting it whatever it is. There it is December the 6th So this is very important. You got the Fed meeting coming up Is it going to now accelerate and double on the date of downside even or even more always going to be a balance This is going to be that the Fed says kind of what we knew they would say and the market is already discounted there We'll see exactly what it is I said to subscribers to my opening call if the dollar is over 120 points or more After the 230 News conference stars means go to about three o'clock. That's going to be a positive and then we can get maybe an m-shape pattern If in fact we're down over 120 points That's going to say alright. We've got that arch formation You'll see it this is the arch formation that could form in the Dow And it'll say it's sorry to hit the 35,000 level very quickly looking at the S&P will do the same thing there Look at this arch formation forming And that says at 14 at 46 22 down 11 if there is a close Later today at any point on a 10-minute basis below 4600 that's going to be a big negative going into the close And if there's a balance you can fill in some of the gap of yesterday But I suspect that either way the upside is capped But it doesn't mean say you couldn't go sideways for the most of December We'll see what happens look at the QQQ QQQQQ is down $70.00 right now 386.48. This is definitely forming that dreaded H patent In the daily chart same as the smh is semiconductors look at that and the IWM is just broken the base Is gone below the low off to 12.71 a week and a half ago It's a 2, 12.24 right now mmm not good action roll for the small caps to good gold You'll see what happens to gold later today, right now it's down four at 1768, does a slump below 1758 or does a suddenly spiral back towards 1782 and look at Krutor, Krutor's ready struggling here but it's not breaking down but it is arching over and the GLT will talk about that when I get back for my show, the Tiger Technician's Hour, check out the opening call as well, I'll be back in a few minutes, hope you can stay for the rest of your day.