 T F N N headline news update Welcome folks to your 2 p.m. Update. I'm Steve Rhodes right now. We've got the Dow up 75 points She's trading out at twenty five thousand nine ninety S&P's up twelve NASDAQ 142 Russell is up a nine if we just focus in on the well in the New York Stock Exchange of 26 points So if we take a look at the Dow just to get a feel for what it's doing out here from the standpoint of topping signals We know that the Dow formed wave number seven is part of the Chapman wave. It did this out here on the 25th of February price has rejected what's called steve's green line. That's the oscillator and change line 26 050 if price closes underneath 26 050 out there We've got another failure or signal of at least a short term top inside of the Dow If we take a look at the S&P 500 the cash in to see it to form wave number seven letter number g The nine count for the Tom DeMark set up nine count and price right now at 27 96 is basically Right on steve's green line. So a close below we'll call 27 96 this is called 96 would suggest a failure and that a short term top would be in play What happens if price closes over that? Well, let's not talk about that. I just posed a question No, we'll talk about it if I've got a second here if we look at the NDX 100 The NDX 100 has got that Tom DeMark set up nine count out here It's trading above steve's green line. The ideal setup in the NDX 100 is that it closes above its open therefore, we have a green bodied candle And then you get the reversal signal on Monday The NDX 100 is even though it has a topping signal, there's been no failure of support inside of the NDX 100 If we take a look at the new york stock exchange the same kind of setup out here It's got wave number seven. It's got number nine that Tommy DeMark set up nine count price below steve's green line Green red line 12,007 05 and price is moving higher with less relative energy out there Each of these are signals that the market is trying to top But what if it closes above all of those levels? Look, these are just signals that it's trying to form a top There have been no levels of support other than steve's green and red line That may be broken. We won't know till the end of the day. Hey, be safe out there for a great weekend I look forward to seeing you on Monday. Take care