 T. F. N. N. Headline news update. Good afternoon folks this is your 1 p.m. update we've got the Dow trading down about 190 points that's off about three quarters of a percent 25 283 is the print the leader to the downside of the transports from a percentage standpoint down over one and a half percent of 162 points out there it's read across the board spot volatility next just kind of normal now when I say normal it's up a dollar 22 it's up 7% and I believe it's trading just above its 50 day exponential moving average so that's really going to be the key I believe we take a look at how the week closes so take a quick peak here at exactly so it is above so the figure to be watching would be 1723 17 dollars and 23 cents the actual that's a 50 day exponential moving average and look this is going to change by pennies or so as as we move towards the close but 1780 is where we're trading 1723 that is above the 50 day exponential moving average why is that a problem here's a chart of the New York Stock Exchange and so it's kind of a tale of two dogs out here the first dog is the fact that's advanced decline oscillator that's the difference between it's it's advanced decline information looking at the last 39 and 19 days out there and figuring out that difference when it gets down below minus 150 it's in a real oversold condition right now it's at 227 by the way but the thing is is that when the spotball till next is above the 50 day exponential moving average it's a real sign of lack of liquidity to market and so you could see a real huge thrust today's not a huge thrust at all to the downside so this could continue and so I'd be really watching at 1723 level out there there's other areas to be watching and that's really with regard to the equity futures contract if you get the let's say the ES mini right now it's trading below a key level of support a change in trend type of level of support and that's at 2738 we're about 10 points we're nine points right now below that level 2729 so if price closes below that combined with the spotball till next above the 50 day exponential moving average get your roller coaster tickets ready for a ride stay tuned folks steve roads oh that's me it'd be up next for the traders edge have a great day