 T F N N headline news update Good afternoon folks Steve Rhodes coming to you live from the shores of sunny Delray Beach, Florida This is your 1 p.m. Update and currently got a bit of a mixed bag out here the Dow off 110 S&P is down five you got the Nasdaq 100 up 15 the Russell 2000 other big day up 1% 24 points That is the semizer up 12 trend is back 318 points. That's a big move lower You've got gold trading out $27 silver off 30 pennies likes we crude off 271 What does all of this mean? Well, let's go take a look at our nine panel market update chart We begin by take a look at the ES mini in the upper left hand corner now There's certainly a to b equal CD patterns out here So you'd be watching for a bearish reversal candle should one form today that could identify a short-term top your level of support Though right now is the top of its daily profile old resistance that could become new support. That's at the 45 90 level spot ball tunics You can see it's rising bottoms pattern out here even though we're just looking at the candlesticks It's still below the 50-day Exponence moving average so the wind is at the back of the S&P 500, but that rising bottoms pattern just says hmm More than something to think about if we take a look at the NQ out here continuing to move higher it too If it regenerated a bearish reversal candle that would identify at least a short-term top and suggest Perhaps a pull back to the top of its profile as well. That's at 15 483 We do not have that message by the way just something for you to be watching come the end of today's trading session US dollar index still trained above the top of its daily profile Even though it's got a roadsman to Mindicator top out there So what that means is the signal is really neutral gold is not neutral Gold is trading below the bottom of its weekly profile That'll become more important on Friday than it is today on Wednesday that number is 17 74 60 But price has also gotten back inside the daily level. So watch 17 68 20 If price closed below that that could signal move back to 17 34 17 48 level for gold Silver closed below the bottom of its daily profile yesterday So its target becomes the center of its weekly level and that's at the 22 82 area lights We accrued sounded like a big move down was $2 and change out there not that that's not a big move But we always need to know where is support in this case here support is the bottom of its daily profile That's priced at 81 24 prices traded 81 21 Now if you look at that chart in the lower left You'll see that the last time the lights we accrued closed below the bottom of a daily profile was August the 18th out there That says it closed below 81 24 today What that could be signaling to you and I is a short term change in trend folks Stay tuned for the Trader Zed show But if you're off to start your Wednesday have a wonderful one. We'll look forward to seeing you again soon