before we bring in our guest, walter zimmerman, we had choppy action recently, two down days. drop in each of days. folks are wondering if it is the beginning of some test of this year's lows. here is a relatively near-term chart of the s&p 500. what we are seeing is the choppy trade we have had the best two days even though it is to the withide, it is consistent the range the s&p 500 has been in or about a month. couple of weeks ago, the range presented more bearish late because it was starting to reverse the uptrend shown. with a test of the support around 2800, if it holds, the range is becoming bullish because of the equidistant highs. this is called a sending triangle, consolidation before the next leg up. the target is not just the old highs, 3000 or 3100, but closer to 3150 430 200. if it is below, we will see that range to the downside. right now it is bullish. to talk about this range and someone who wants to offer a bearish view on the long-term, i would like to bring in walter zimmerman from i cap technical analysis. thank you for joining us. there is some chance we