 T. F. N. N. headline news update. Welcome folks to the 2 p.m. update. I'm your host Steve Rhodes coming to you live from Delray Beach Florida. Currently we've got all the indices in the green with the exception being the transports. The S. and P. is up 10. The Dow is up 45. Nasdaq one hundred up 38 points about four tenths or percent. The upside is actually the the semiconductor index of socks that's up six tenths or percent or 10 points. So what are the markets doing out here. Well they're continuing to grind higher in the favorable seasonal cycle out here. So let's go take a look at the S. and P. five hundred. Where is this likely headed to. So this is a tool if you're watching us on Tiger TV. This is a tool here that was really created by Bud Ross for those of you that are longtime T. F. N. listeners and what he had determined was that markets will move in between horizontal ranges either going from lower left to upper right. Right now we are going from lower left to upper right or the opposite direction. But these horizontal trading ranges can be areas where price can find support and resistance. Now I have four different time frames. We're looking at a monthly chart and the monthly horizontal trading ranges. Oh I've got to show the chart out here. Boy that would be helpful. So here we've got the chart right now. So the red lines on this chart are the monthly horizontal trading ranges. The green ones are the weekly and the blue ones are the daily. Now each of these are taking a look at the body of a candle. So the body of a monthly candle it's opening clothes are going to be different than the body typically of a daily candle or a weekly just depends on the timing of the month and the week and so forth. But you can kind of get it out here. Look this tells us you and I that the S. and P. five hundred is likely headed to thirty one twenty three. That would be the top of its or its next horizontal trading range daily bar may move beyond that to thirty one forty two. That's the weekly horizontal trading range or thirty one ninety eight. That is the monthly if we take a look at the Dow we can do the exact same thing look at three different time frames although I only have well they've got three of them out here. And this shows us that if the Dow is going to this the cash in the seat is going to find any top it should be right around now twenty seven seven ninety nine is the daily horizontal trading range area. But a price moves above that what you should expect is the twenty eight eight fifteen ish area. That's what we've got both the daily and a monthly horizontal trading range level. So at this stage of the game folks here's the deal. Markets will continue to grind higher if we get some type of bearish reversal candle a total change in the close of where we're at right now then there's some other patterns that we can take a look at. Thanks so much for being here. Stay tuned a couple more great hours of programming brought to you by the folks at T. F. and N. dot com.