 Good morning everyone, Basel Chapman on this Monday the 5th of June we're looking at the Dow at 11 o'clock Tiger Financial News Network Market Update down 112 at $33,662. We're anticipating that somehow or other there would be some kind of a pullback from the higher Friday because that was like a three-in-one session the higher Friday was $33,805 round number highs amazing how you can get round number highs at that particular level and today we went to $33,804. So this could turn into a peak B most importantly how those three-in-one sessions on Friday where there was like the early morning at 8.30 with the market dropped quite sharply actually very sharply and then rallied and then it rallied for the rest of the day so it was one session then two sessions and the third session was the last hour with just a little bit of a give back at the end of the day giving it kind of a Marabosa candle which really has no wicks but a huge big candle so we're watching that closely the S&P has been just a little bit stronger today than the Dow it's up $692 at $4289 it did make a new recovery high I'm calling this E right now it could be an alternate count but in the meantime QQQ's had a very strong move even with the S&H is pulling back a little bit the QQ's up too at the $356.70 making the $351 to $347 area in the next few days really important support to hold the IWM I didn't do that by mistake I forgot it big pullback down 251 at $179.51 not quite ready for prime time looking at the US bonds US bonds are down 830 seconds and 127 32 seconds so yields are in the higher range they haven't broken out yet crude oil crude oil is up was up sharply now it's only up 91 cents with the Saudis cutting back whenever they cut back actually crude pulls back looking at gold gold was down sharply then it was up and now it's up four points at 1973 holding well the dollar the dollar at this particular point is given back some of the gains is down four ticks yeah I think that what we're looking at here is a market that says we're waiting for certain areas like the financials like the XLF to really garner strength and hold that strength for about four or five sessions say yep got a rotation now in the sectors that were very weak as a semi-conductors take a bit of a breather they're down 1.53 have a great day stay tuned for great programming here at TFNN and Basel chairman signing off dahi's down 1481