 Hi everyone, Basel Trappin here on this 14th Thursday of July. We're looking at the Dow for the first time being able to test the one run at 200 period exponential moving average since it broke down at 9.30, hit it and then pull back and now it's trying to challenge it. It's just made this leg decan at hold, it's going to be very important and the E-mini for those of you who do J-trading to see 37.63 sometime in the next two hours or so and we're at 37.45 right now that would be important and yes I think this has the potential to be A low not V low just another one of those tests of the downside the Dow itself is down 490 80 was much lower it was a 30,000 or 143 almost testing 30,000 that's not good and the H pattern that's just formed also not great but in many ways the Dow it says it's really fighting to try to find some support it hasn't taken out all these weeks a month exactly and it hasn't taken out the low of the 17th of June at 27.653 it's trying to do it but it hasn't done that the S&P right now S&P S&P is trading down 60 at 37.41 also coming off the low but still very poor QQQ and the X100 trying to come back yet 281.75 down 380 looking at the IWM also very weak down 370 at 167 so but it's the gold that took a dive gold is down 30 points at 17.05 but this is exactly the support the low today is at 16.95 1690 yeah this is exactly the area the 1690s is the left side low of a year ago I think that we were looking to see if it contested so the dollars screaming up at 108.97 this is exactly where you're gonna see whether or not the dollar is able to pull back it could but the technicals are really strong and crude oil look at this crude oil took a dive it took it went down to 90.56 now it's at 93.45 only down 2.85 this is in that pattern remember that pattern they be looking at in the rectangle it has to hold the low that was made back in the week of the 15th of April at 87.37 so I'll be back tomorrow check out my opening call my daily newsletter now you've got Larry Perzevento great programming here all day Larry Perzevento Kevin Hinks with thinkorswim you've got Steve Rhodes Dave White and Tom Brown wraps it up at three to four o'clock and don't forget Tommy Jr. starts us up for the market kickoff at Nine and Great Show stay tuned Larry coming up have a wonderful rest of the day see you tomorrow