 T F N N headline news update. Good morning folks Steve Rhodes coming to you live from the shores of sunny Delray Beach, Florida. This year 11 a.m. update and currently have a sea of green out here all the U. S. Indices all the sectors with inside the S&P 500 basically nearly everything is trading to the upside on my screen. The exceptions are the spotball Tidex which is well below its 50 day exponents moving average that is bullish for the S&P 500 the U. S. Dollar indexes off 11 pennies trade out at 101 87 and a 30 and the Japanese yen is off just a slightly dows up 448 that's one in four tenths percent S&P one and six tenths percent 65 points two and a half percent for the NDX 100 307 points one and seven tenths for the Russell semizer up 3.6 percent 112 points there golds up 31 bucks Silver's up 38 cents both of 1.6 percent move to the upside likes we could up a buck 69 that's two and a half percent natural gas up eight pennies the 30 Treasury is totally flat trade out at 130 31 let's try to figure out what all this means by taking a look at that nine panel market updated chart we begin with the ES mini in the upper left hand side yesterday was a confirmed sell the deep point pattern why because it has an a to b equal CD reach the one to one price projection level and then created a bearish engulfing candle key reversal and a bearish engulfing candle however a price has been unable to do you don't see it on this chart is bus through support and support really here because that is a slightly bearish structured would be either net 3951 or it's a setter and changeline that's at 3983 right now spot ball tunics is well below its 50 day expense moving average that's the area you want to watch that is at 2157 now yesterday was a hammer candle inside the spot ball until the exit price closes below 1994 same rules apply will first that tells you do not be short the s&p 500 even though I can give you like probably three or four good reasons to be short that but if the spot ball tunics close below low of a hammer candle it's signaling to you and I that that ball tunics wants to continue to head lower out there if we take a look at the end Q yesterday was a confirmation of a roadsman to indicator top out there we'll take a look at that during the traders ed show however what price was unable to do was even get down to the green oscillator and changeline and that says that the signal that is present right now is neutral it's not bearish it's not bullish it's neutral it's actually it's actually a little bit more bullish than it would be bearish by being unable to even get down to a key level of support but take a look at the US dollar index it's got an A to B equal CD to the downside it's waiting for a bullish reversal candle to confirm a bottom layer sorry we didn't get to gold and silver and like we crude and natural gas and a 30-year treasury but we can certainly do that during the traders ed show folks if you're off to start your Thursday please have a terrific one and we'll look forward to speaking with you again soon take care now