 T.F.N.N. The Tiger Financial News Network Update Good morning everyone, Basel Chapman here for the Wednesday 10 o'clock Tiger Financial News Network February the 22nd Market Update, 1,041 points at 33,171 after diving 700 points yesterday. Look at that big red candle underneath the blue horizontal line which is really the key support level at the major resistance in the 32,600. Here we are, 33,170, a very feeble rebound today so far, days young. We'll see what happens. Look at the S&P. S&P was also down very sharply, closed under the 200 period exponential moving average yesterday. That means that the Dow and the down the S&P and the Q's are in cell modes on the daily charts, not the weeklies but the dailies. That can reverse at any point but that's the designation I'm giving it right now. S&P's up 5 at 4,002, struggling to really garner strength. All the technical indicators are turning down and you've finally got the 9 period flipping to negative. We'll see what happens by the end of the day but so far there is a flip to the downside. Look at the QQQ NDX 100 trading vehicle. We're looking at this up 54 cents at 294.62, also under the 200 period exponential moving average. This one is making that pattern that we call the H pattern, the dreaded H pattern. We're going to see if in the next two days it's able to get to 297.80 or if it's going to slide underneath the low to days in the 294 area, watching that closely. IWM Russell 2000 also weak. It's up 67 cents after a very sharp decline yesterday, also in that H pattern. I'll talk about that in my show coming up. The Dailie technicians hour, under the 88, it needs to hold 186 over the next couple of days and that's going to be problem. Look at the gold. Gold keeps trying to rally and it can't hold the rally. It's up to at 1844, that 200 period moving average that I've been talking about for some time now. It's like a magnet to this particular point at 1836. If you're looking at the dollar, actually the interesting thing here is that the dollar is moving. It's down 10 ticks at 104. It's stuck under the 200 period moving average and bonds are up just a little bit for the crude oil. That's going to be also the issue that needs to monitor. Crude oil is very weak. It is down to 75. I'm thinking it's in the 72s in the next week or two. I'll be back in a moment.