 the tiger financial news network update everyone basal trapman here on this uh monday the 16th of may tiger financial news network 10am market update dowsdown 179 at 32,017 after a pretty decent day on friday the s&p is i'm going to talk about the market the technicals in a moment the s&p at this particular point is also down it is down 31 so this is going to be very important because it's giving back some of the gains from friday so 31 at 39.92 it needs to get to the 40 40 level by tuesday without not saying tuesday maybe wednesday but without taking out 39.82 ish uh what was the load today so far 30 yeah 39.83 goes below 39.82 we got a little bit of a problem here we'll have to see how the day closes i did have a chap and wave trengage reading that was very low and that suggested that no matter how the futures were up and they were up at one point uh quite sharply it didn't matter because the uh there should be a weak opening and then some fire some sort of rally should unfold the iwm is down $1.50 at 176 also starting a little bit of the nine period moving average you're looking at the queues now this is going to be really important the queues are down for that a very good session on friday they're 297 you you really need to see the qqq the index 100 trading etf that's the qqq at least touching he doesn't have to close it but it needs to touch the 303.40 level in the next two days without taking out uh 290 already the load today 297 let's say 295 to 293 is really important to hold you're looking at gold i haven't actually looked at gold i said we're looking at gold but let's get it together uh gold is down that's unchanged at 1807 now this is going to be really important because the unbalanced volume suggests that there is an over sole situation at 999 the stochastic is flat and says that the selling pressure could continue but this is really the issue look the the dollar is pulled back only 13 ticks at 104.43 but at 101 on friday that was a leg f that means we've got to watch this real closely looking at crude oil crude oil was up quite nicely before it's still up 18 cents right now 110 66 in leg d and we're looking at the tlt that's bond uh up 61 cents i'll be back for the tiger take christmas hour in a moment i hope to see you there and stay tuned