 Good morning folks this is Steve Rhodes coming to you live from the shores of cloudy Delray Beach Florida this year 11 a.m. update and currently have a not a mixed bag. We have all the sea of red so to speak. You've got all the US indices trading to the downside that was off about eight tenths percent two hundred sixty three points one and two tenths for the S&P forty seven points there are 120 points for the Nasdaq one hundred that's off one percent. Russell's down one and a half percent. The semis are flat. They're down just two bucks out there. Trendy's off three percent or four hundred twenty eight bucks. Gold's off thirteen dollars. Silver's down sixty two cents. Light's recruiters off two seventy six. Natural gas up six pennies but it's testing resistance. You'll see that shortly. The 30 year treasure is off twenty three ticks. She's printed out at one twenty five twenty two and the US dollar index up eighty three cents. Now I've got a ten minute delay out there so it could be higher or lower than that. Let's go see what all this means by taking a look at our nine panel market update chart. We begin in the upper left you've got the ES mini now ES mini two A to B equal CD patterns that are in that are present. The shorter term one has generated a sell the D point pattern. So now we've got is we have price that is a testing a brand new profile. I remember yesterday we looked at it there was a new profile that was attempting to form it did take place. That support level thirty nine twenty five seventy five. We're trading slightly below that right now at thirty nine twenty close below that which suggests to me that the spot volatility would then go target is fifty day exponential of an average that's at twenty six seventy three. The end queue also forming a new profile though it keeps getting messed up here. Oh shoot that was the wrong chart to hit. Sorry about that. Folks let me just try refreshing this chart here. Just want to see if that yeah so that new profile prices testing that level right now that level by the way the bottom of support is eleven five ninety four forty five. I noticed before we came on the air that apple was also testing the bottom of its daily profile as well but bottom line is a close below eleven five ninety four which suggests lower price for the end queue. The U. S. dollar index that'll be the culprit out here. Now the U. S. dollar index yesterday two days ago my apology generated a by the D point pattern from a nice bullish hammer candle and then this morning what the U. S. dollar index has done is form a new bullish structured profile. Now if you listen to show for a long time or for whatever period of time and you've heard me discuss a bullish or bearish structured profile the U. S. dollar index is a bullish structured profile. The center of that profile is printing at good question. Let me see if I can actually visually see that printed at one oh six thirty two thirty. Now it doesn't really matter where it's trading at eleven oh two. It matters where it's trading at the end of the day and a close above one oh six thirty is going to suggest that the U. S. dollar index is going to make a run to one oh eight oh two. If that happens we'll see pressure inside the equity markets and inside the metals market. Stay tuned for the Trader's Ed show. But if you have to start your Wednesday Thursday please have a terrific one and look forward to seeing you again soon. Take care now.