 headline news update everyone Basel Chapman here on Friday the last day of this week and the first trading week of December we're looking at the Dow in this 10 o'clock target financial news network market update down let's see I've got the S&P the S&P is down 12 at 45 64 hit exactly on the nine period exponential moving average and has pulled back but this is going to be really interesting is what I've been talking about for a few days there's a rotation going on and that rotation is saying that the Dow has had such a big pullback gone right to the 200 period exponential moving average it should hold better here you should attempt some kind of an arch formation perhaps going from the 35,000 584 level it's at now minus 52 after hitting that 34,800 it could even touch the 35,000 35,100 then maybe we're going to be have to be careful again but in the meantime back at the range we're looking at the QQQ this is what I've been saying this is the area of deep weakness I should also mention from subscribers we are we've been short the QQQ and this is the NDX 100 for 8.71 was the all-time high on the 22nd of November it has gone down to round number 385 and now yep 385 today popped up and now it's down to 385.13 I would not be surprised if this is the rotation that we're talking about this is where weakness comes in and perhaps on a percentage basis maybe the Dow holds a little bit better but what we are looking at here the IWM is back to week it is a 216 down 3 what we're all looking at is a nice rally in gold there was a nice rally in gold up 6 and 1768 it's kind of struggling here it's making lower lows and lower highs I'm afraid the gold is just stuck for now we're looking at the dollar attempting we are the dollar attempting a little bit of a rally it's up 7 ticks at 96.20 crude oil crude oil right here is up quite nicely this is a very nice turn around from yesterday's low it's up to 10 and 68.59 and the TLT which is the bonds is up it's down 46 cents and 152.07 looks like it could make a leg D in the next few days above 152.99 Basel Chapman Tiger traditions are coming up in a moment and check out my opening call my daily newsletter this is going to be a really important session for the closing press you back in a moment