 T. F. N. N. headline news. Update. Here's Tom O'Brien. Welcome folks Steve Rhodes filling in for Tom for the nine o'clock update right now down futures trading down by about seventy seven points that's three tenths of a percent to the downside. In fact all of the equity futures contracts are down by about the same percentage point the S. many off nine. The NASDAQ off twenty six and the Russell two thousand down six points out here now the important thing is to understand even though markets are trading lower in terms of U. S. dollars that is not the case we take a look at how the Dow is trading in terms of euros and pounds which is actually trading to the upside six tenths of a percent and a quarter percent to the upside same with regard to the E. S. many gold is trading up sixteen bucks right now that's one a quarter percent but if we take a look at how gold is moving across the globe out here you're up two percent in terms of the gold as compared to the closing price in pounds nearly two percent with regard to euro so gold is moving higher out here it doesn't mean that I don't see a short term pullback in gold because as the five hour bar completed at nine o'clock just a moment ago we did get a bearish and golfing candle so this does set up the possibility for gold to pull back I would say thirteen ten to thirteen twelve would be the initial target on any kind of a retracement out there the ever ready bonds they're moving higher in all of the currencies out here with regard to bonds and where they're likely headed to yesterday was a breakout party for bonds and we take a look at bonds they have been trading in a consolidation that consolidation between about one four man come on work with me we're live here beat well that didn't work try this again between about one forty four and one forty six in essence was the consolidation this looks like a real break at this stage this would set up the thirty year treasury as a measured move consolidations are great patterns because we can use the consolidation to generate the approximate price equal to a grade where prices at it do so the call right now on T bonds is one of forty eight that measured move to the upside as far as a gold is concerned as we mentioned that we might see a pull back look for that thirteen ten area in effect we're in a choppy market out here back to the equity so folks are great to be with you stay tuned for the next show I'm not sure who's doing it but somebody will be doing Larry Pezzvento show it's not Larry from China it will be a basil so have a great day and I look forward to seeing you again soon