 T F N N headline news update. Good afternoon folks Steve Rhodes coming to you live from the shores of very sunny Del Ray Beach, Florida. This is your 2 p.m. update and coming to get all the U.S. indices trading the upside down is up 616 points nearly 2% the S&P's up 68 one and a half percent NASDAQ 100 a little over 1% 176 point the Russell is up 46 the semis are 55 the trannies are up 280 hey I've got my index charts finally working out here so let's go take a look at those lately we've just been looking at the ETF so let me get over to that screen in the upper left you're going to see the Dow Jones industrial now here's what we know in the case of the Dow yesterday was a bull sash candle that confirmed an A to B equal CD down pattern or currently buy prices above its oscillator and change line this a wide-ranging bars markets do not end on wide-ranging bars so if price closes towards the high of the day and typically it will close at the high of the day with this kind of a bar inside each of the indices out here no guarantee but that's not how markets end in the case of the Dow Jones the cash indices this is suggesting that price should move up to the 35 475 area the S&P is more bullish than the Dow the S&P has a green oscillator and change line let me get my refresh button here move that up and what we can see is prices above its oscillator and change line that level is green so green tells us that we have a price oscillator above zero price above that says we have a rising price oscillator above zero 44 59 is the number so a close above that is bullish for the S&P 500 the NDX 100 it's targeting its oscillator and change line that's at the 15 439 level the Russell 2000 strong leg bull it's up above a red oscillator and change line just says more retracement or more of a countertrend move is likely the semis they're headed back to their all-time highs likely to make a new all-time high back above its green oscillator and change line the transports which have been a week in to see right now today they are confirming a Gertley buy pattern or buy the D point at least spot biotinics trading below its 50-day exponential moving average right now so that's bullish for the markets the XAU needs a bullish reversal candle to confirm a roads momentum indicator bottom so that's what the indices look like as we speak let's get back to see if there's anything else on the charts out here folks i would say the most important thing watching today four signals is that spot volatility index because if it closes below the 50-day which is currently priced at 1862 and priced right now traded 1844 that is bullish for the markets certainly the S&P 500 and that suggests to move in the ES mini up to the 44 83 level folks stay tuned your favorite polar bears up next time will grind he'll bring us on home and i'll be back with you tomorrow morning 8 a.m sharp have a terrific thursday folks