 and the tiger financial news network. T F N N headline news update. Hi everyone this is Basel Chapman the host of the tiger technicians hour coming up straight off to this T F N N update noon time here dows up 320 points at 25,645. This is very interesting because yesterday's gap down started the Dow off this is the cash now this is the Dow itself gap down and it opens at 25,568 plunges down to 25,222. So that's the 300 something point to decline from the opening price which was a gap down from the fantastic Friday big reversal spike open late afternoon rally which saw the Dow close near the high of 26,000. And now what we're looking at is a very sharp rally and that rally has gone to what we call a great leg A because it's above the high of Friday. This is a good sign but the Magdy's got a lot of work to do in the daily chart. So casting is flat at 25% I suspect it's going to go a little lower than this to the teens. But in the meantime very good bounce really saving the day if you look at the S&P also up about 1.30%. Let's see 2008 47 up 36 up 1.28% at 35 up 30 almost $36. And this is a very good sign same thing Magdy's very poor stochastic is trying to form some kind of a base here. This is this is a very good action when you compare to this time law yesterday. So let's see where we close out my suspicion is we're going to form some kind of an H pattern at some point a little later on the week. We will find some kind of bad news to force a decline and that's the decline that's going to be very important. Is this something that goes on for most of May or are we close to some kind of a poor but I think in price I think we've done a chunk of the work in time maybe not because the QQQ the NDX 100 trading up 1.48% very nice up 263 and 181 22 but it is only modestly higher. I think that the tech sector is going to have a little bit more of a struggle here especially with this Apple there's a bunch of things that are going on in the tech sector. So let's watch this one closely. The IWM is actually up very nicely here but it hasn't taken out Friday's high. Gold tried to rally earlier on now it's down six almost seven and the dollar is holding very nicely. We'll go to more of this in my show coming up the Tiger Technicians Hour stay tuned also for Steve, Dave and Tom O'Brien later on. In the meantime stay tuned for my show the Tiger Technicians Hour. See you soon otherwise tomorrow at this time.