 Okay we're back folks and hold on let me this is Larry Pesevendol mid-morning update big moves in the market folks Dow Jones up 400 S&P up 70 NASDAQ up 250 this was not unexpected folks because we made a big ABCD pattern here yesterday at that 38 39 level in the S&P I'll get this up on the chart so you folks can take a look at it but this is what it looks like as you can see here we had a rally that should have gone up into the area of around 3960 to 3990 so far we've been to 3970 keep an eye on the bank stocks and also the treasury bonds I believe that's where we have some real possibilities we're down in the bonds today which is not unusual but they're still holding up you know excuse me relatively relatively well gold is backed off a little bit we hit the 61% retracement yesterday and the whole move down from 30 1975 we hit that at 1916 the high was 1918 and we're now trying trading at 1913 so it's no big deal on the downside so those are just a few of the things that we're paying attention to today also the US dollar has backed off a little bit folks but the key to watch is the US treasury bond and I think it's key enough that I'm going to post a chart here into the den so you folks will take a look at it because we are at the proverbial moment of truth here in these treasury bonds I'll get it up here and hopefully so you can see it and there it is right now and we'll bring it up so the folks can take a look at it and we're going to be discussing that on my show that'll be coming up here in just a few minutes and we'll see what's going on with it but there's where we are we've had this big move up and we're finally having a really nice ABCD retracement down here at that 129 level we're trading a little above 130 again now so still down on the day so this is nothing more than a correction folks this stuff does not get cleared by the magic wand of somebody saying thing or somebody doing thing look at the bank stocks and see what they do when they start exploding to the upside you know the bottom is in but but until that happens you know this is just a short covering rally off of the really big ABCD that we hit at 38 39 yesterday in the S&P and also look at the Russell you'll see you know the difference between the the mixture of the markets of what's really happening between the Russell NASDAQ and the Dow Jones we'll be right back folks