 T F N N headline news update Good afternoon folks. Welcome to the 1 p.m. Update. I'm your host right now Steve Rhodes Will be coming live to you in just a few minutes right now. We've got the Dow course. I'm live right now But I mean for the full hour, but right now we've got the Dow trading down 12 points So a flat market out there S&Ps off for NASDAQ 100 down 67 points mostly not all but mostly a result of the move Lower in Google Google by the way is trading down a hundred and seven bucks But what Google's done is pulled all the way back to support, you know when you're ever I think the way that I got into this business Was because of all the individual holdings that I used to have Now it's mostly ETFs But in wanting to understand if something was going to fall apart Where would it pull back to and the idea was to be able to always identify support and in the case of Google if You're watching on Tiger TV what you can see here You'll see a green line at the bottom at 11 73 41 I want you to know that the low so far today has been 11 75 even Stephen out there But what price did was a pulled right back to support that is the bottom of its weekly profile now closed below 11 73 41 That would say there's a change in trend. I know you're saying hey come on Steve Oh, there's a hundred and seven dollar move to the downside. You mean that's not a change in trend Hello, that is exactly what I'm saying now if we take a look at the other markets out here You got the semis of seven tenths of a cent. That's ten points in New York Stock exchange of 27 points Now I could take you through each and every industry will do that when we come back to the Traders Ed show out there But in most of those indices the cash markets out there They have identified topping signals There's two that don't and that's got to make you say hmm Something to think about and one of those indices is the New York stock exchange if we take a look at the NYSE There is no topping signal in place as we speak right now And that's trading up 25 bucks. It has to make you say Something to think about however inside the New York stock exchange. It does have its diverging issues And what I mean by that is prices moving higher But what we've got is we still have its price oscillator below zero and we have had declining tops inside this pattern Here's the juggernaut The real key to the New York stock exchange is will the spot ball utility and stay below its 50 day EMA 1418 folks that's your number to watch throughout the day and the days that follow. Thanks so much for being here Stay tuned Steve Rhodes. That's me and the Traders Edge up next