 Good afternoon folks this is Steve Rhodes coming July from the shores of sunny Delray Beach Florida this year 2 p.m. Update and we may see markets here shift a bit during this two minute segment because the Fed is releasing their their their notes from from their most recent meeting out there so we'll see if that has an impact on the market but currently right now and you can see this they can see quite a bit of movement in a little bit of flow issues inside of the e-signal system but right now you've got a mixed bag out here the Dow off about 68 S&P's down to Nasdaq one is up 31, Semi's are up 12, Russell's off 16, Gold is down 29 bucks, Silver's off one penny, Light's recruit is back a buck 30, Natural Gas is flat, the 30 are treasuries off one point and 8 ticks, she's traded 1 to 39, 29 out there so really I'd say stay tuned for the power trading hour and certainly stay tuned for Tom's show out there because I think we'll get more of a feel for how the markets are going to respond to the Fed minutes out here but let's go take a peek and see what our cash-indici charts are communicating to us as of 2-0-1 in the afternoon so we'll change over to those screens the upper left-hand corner you got the Dow as long as price remains above 36-22 we should see him move up to about the 32,000 level as long as price on the S&P remains above 37,67 a move to about 39,50 or so as long as the NDX remains above 11,477, 12,200 as long as the Russell remains above 17,05 that's been the worst performing index today and it still is in a somewhat bullish mode out here as long as price is above 17,05 a run up to the 1800 area the semis are the weak indices out here and I really believe in order for the markets to give any kind of sustained move to the upside you need to get a bottoming pattern inside the semis you do not have that the Dow transports a nice TD9 count bottom as long as price remains above 13,011 you should see moved to about the 13,800 the NASA composite should be targeting about the 11,700 area out there and that's what the cash indices are communicating to us I'll switch over to our 60-minute timeframe chart for those of you that trade the futures or even if you don't trade them use the futures to help guide you as to what is going on inside the markets in the ES mini your key resistance levels at 38,44,75 if she a close above that on an hourly basis the markets will continue to move higher the case the NASDAQ out there it would be quite a close above 11,882,50 that's on the hourly basis get that markets are headed higher folks stay tuned your favorite polar bears up next I'll be back with you tomorrow on terrific Thursday join me at 1 o'clock sharp have a wonderful Wednesday folks