 Tom O'Brien welcome folks this is Tom O'Brien of TFNN we are five days a week we go seven hours a day we go 24 hours a day in the internet at TFNN.com always remember folks whatever you think about you bring about whatever you focus on grows so everyone's having a great day safe day the TGIF Friday let's make it a great one folks love coming out of you makes you happy the whole world can love you but that is not we'll make you happy what we'll make you happy is to share the love you have inside of you that is the love that will make the difference let's take a look at it out here we have the Dow industrials trading up 400 Nasdaq is up 315 S&Ps up 66 that's a gain inside the NASDAQ composite of 2.4% 1.7 and the S&Ps 1.1 the Dow industrials gold contract of $18.10 trading at 18.42 an ounce we get silver up 30 cents $27.35 an ounce of light sweet crude up a buck 54 trading out at $65.36 a barrel notes and bonds 10-year note up 66 trading 132.12 the 30 year up 19 at 156.25 and King dollar King dollars down 421 ticks trading out at 90.331 the year is at 121 the yen is at 109.36 and the British pounds at 140 to 1 US dollar our phone numbers 877 9276 648 give us call folks one notes going on in your world and the world of the S&Ps let's take a look at them what do you have you get a great bounce going there's no doubt about that but guess what folks my take is that you have a structure and top that's in you get a bounce here that and dramatically light a volume and this is really a monster contraction of volume is pretty wild man that being said the bottom line the spy right now trading out here at 417 49 the highs up there a 432 the gap down is 417 81 so this is going to be really intriguing let me just look at this for a second what I just say 417 why isn't the spine number coming up for me 417 this one just doesn't want to cooperate when I do that okay so let's go to the cues so the NDX 100 cues same type of setup inside the cues the contraction of the cues let me get a different screen that's what I got to do this screen is not cooperating so let's find out how this screen I say not cooperating it's not give me the price when I put it simultaneously at the top there we go okay so the three cues right now up seven dollars and thirty five cents bottom line is that you're going to contract we're doing 32 million shares yesterday we turn around to 69 million downtown you did 91 million and this is that this is a typical folks B to C of an ABC structure on the way down well doesn't mean that you're going to get one but this is how a ABC structure on the way down sets up what you get is this first you get a high you come down with volume you go up with light volume and then all of a sudden you come right back at you what's going to be intriguing about the cues is that if we take a look at this is that you're over the highs of yesterday you're going into the downdraft that had been created out here a week and a half ago so where they close is going to be important the reason being is that when you're anywhere above like 326 21 which was with 40 cents over that that is coming into the higher range you know so we'll see whether it can get into the higher range because if it does get into the higher range the bottom line is that that's saying that guess what the cues can actually bounce the 334 and right now you're 326 we take a look at the spy we do the same set up inside the spy we have with the spy there we go so the spy is up $6.79 cents you're at 4709 and 417 I see we've never made we didn't make it was 1781 is the gap down for 1781 is the gap down bottom line it looks like it's trying to close that gap the contraction is huge out here today folks I had no doubt though bottom line they got it going but guess what there's nothing behind this move go gold contract out here we take a look at the gold contract gold contract had a nice move out here today gold is ready to really break top side the big way it looks like it's going to be another ABC structure on the way up what we have with gold contract out here is you have $18.50 cents you're coming into the swing swing point out here we're talking about is 1846 50 1881 looks to be the big game and if we get over this is going to get intriguing because Newmont even when it came out with numbers that weren't great the bottom line it never never broke its swing you know Newmont traded down to $60 when I come out with his numbers blew that away you're at $70 and 87 cents right now if we take a look at Newmont and the way this is setting up what you're going to see is that you're coming into its highs and you're coming into the highs with volume right now the the high in Newmont is $72 and 22 cents on a weekly you're talking about 34 million shares we did 34 million last week this week it's going to be about 32 33 and the bottom line is that I suspect what we're going to do is that we're going to open on Monday right before the highs now I'm going to bring this let me bring this back further I'm going to bring this back 15 years to see what we got okay so your all-time high is $70 no that's the all-time high right there yeah 72 22 this is a nice setup man this what's happening here with Newmont this is going to be pretty wild the first time that we went up on Newmont we actually came into the swing and we also came into the swing from 2011 with volume 124 million yeah we did it 127 million okay so check it out on a monthly basis we came in with 127 million versus 124 backs down built some more cars this thing looks like it's going to blow it away so and that is going to be all about the good old US dollar folks if we take a look at this dollar so what we have with the dollar is this you've had a couple really nice countertrend bounces and when you get a country the counter-strand bounces are normal and the dollar's case the bottom line is that only been able to hold it well the first nice counter-strand bounces we got was two and a half weeks ago that's when the dollar went from 90 to 91 350 stayed there for three days and then got blown apart on Tuesday the dollar the dollar went from 91 63 to 97 63 stayed there for a day and all of a sudden you got wide price spread again in the way down it looks to me if I bring this back what you're going to be looking at now is that number one it you know I've always thought it's going to go after the swing point anyway the swing point we're talking about is the 88 9 body 88 88 253 but the way this is trading it looks to me like you're going to break that swing you break that swing and the bottom line you can be all the way down to the 79 80 dollar area which is going to be pretty intense stay right there folks come right back down down right now right now for 405 naziqa 315 SPS up 67 come right