In today's update:

1) A spike in the price of Crude Oil caused a drop in U.S. Equity markets and renewed fears of slowing global economic growth. The Dow Jones Industrial Average dropped 142.70 or 0.52%, the S&P 500 fell 9.43 or 0.31% while the NASDAQ 100 closed lower by 23.17 or 0.28% and the Russell 2000 finished higher by 6.46 or 0.41%.

2) Crude Oil Futures surged $6.95 or 12.69% Monday after the weekend attacks in Saudi Arabia while Gold Futures jumped $7.10 or 0.48% despite a strong move in the U.S. dollar. The Bond market also advanced and the yield on the 10-Year Treasury Note settled at 1.843%.

3) Today's price action confirmed a lower pivot high for the Dow Jones Industrial Average, the S&P 500, and the Nasdaq 100 equity indexes. This sets up a potential Head and Shoulders topping formation which has been developing since last April. The Russell 2000 Index has not confirmed a lower pivot high yet but is facing overhead resistance at the 1600 price level.