 Good morning traders, Patrick Muller here from Tick Mail Chartered, I want to draw your attention today to a developing opportunity in the S&P 500 or on the intraday 45 minute time frame here just so we can analyse the price action in a bit more detail. For those who follow the blog, Chartered of the Day suggested that 39.30 would be resistance for the S&P, we saw a nice reaction yesterday to the downside and we now should be in the corrective phase versus the initial decline. So a couple of key areas to watch today 39.23 watch for bearish reversal patterns there, set short positions targeting 38.70, if we don't get a reaction at 39.23 watch for a margin on new high 39.36, 39.39 to also watch for bearish reversal patterns set short positions, ultimately we're looking for a test of 38.70. As always traders plan the trade, trade the plan and most importantly manage your risk. Until next time, thanks very much.