let's talk numbers with erin gibbs and todd gordon. , i start with you because this is in some ways a technically driven index. once the fear kicks in levels start to get noticed. what are you seeing? >> we are at a very interesting juncture with the s&p and the vix. it is timely in that the first chart dates back to exactly one year ago. we failed at respected trim line resistance in the vix and we are testing support in the s&p. so this is exactly a 12-month trend line. if either were to break and we get through the 1920 down to 1,900 in the s&p that opens levelled to the down side. top side same thing on the vix to the upside. the levels to look for if we break perspective levels would be earlier this year to the 20 level on the vix which would coincide with about 120 point drop in the s&p to about 1805. there is a lot of open interest in the 20 vix calls for next month. >> what are you seeing? >> so this is interesting. we are at these recent support levels but i don't want to overblow the volatility that we are seeing. we are only

todd gordon on the technicals. bobby achino on the fundamentals. great to have you with us. do we go lower from here and where does it end? >> yes, we do. gold is in trouble. gold has broken down pretty significantly. if you take a look at what has happened to the u.s. dollar over the last 24 hours a massive move to the top side. that is going to push gold lower. we need to look at the rally that we have seen in gold since about 2001 down at $250 an ounce. a very typical normal pullback will be about the 50% retracement which is about $700 an ounce. that will coincide with the old 2008 level circled in the chart. going to the next chart actually we have a very significant break down over the last year and a half at about 1185. this becomes resistant. i look to be short with clients against that level. dollar rallies. we saw what happened in the yen up almost 2.75% overnight. massive move in currencies. the yen will trade in the same direction of gold. >> so let's get the fundamental view on gold. what do you think? is there any reason at all to own it? >> i think there isn't.

let's start with todd gordon of trading analysis.com on the technicals and ted berkeley on the fundamentalsdy, do you think they should be buying more stock or developing more drugs? >> i definitely think they should be looking for drugs as opposed to buying back stock. pfizer has had relentless downward. even with big buybacks and the ones now it is not doing a whole lot. so there has been some potentially mergers or acquisition talk this year that have gone by the way side largely due to emerging rule. even outside the buyback i would argue a dividend would be use of the cash to make it a more attractive yield play. pfizer doesn't do a lot for me and the buyback really prolongs the story of no growth and just lackluster opportunity. >> pfizer not doing a lot for you. the charts doing anything for you? >> they are. technically speaking the chart looks very good. pfizer has broken above the precredit crisis highs. we are using the $28.5 level as a shell. it is holding support. if we go to the next chart and take a look at the recovery sense those credit crisis lows you see a nice upward tre

todd gordon on the technicals. gene munford. >> how does google -- >> we are going to do google l.e l and all google shares have been under performing the nasdaq through most of the year. antitrust issues, have them priced into the stock. if you overlay google on top of the nasdaq through most of 2014 google under performing the nasdaq. google said not so much at about $610. here we are almost $100 lower. if we move down to the action chart, a trade i was looking to put on here is google broke down through key support around $540. i was going to come and say guys we want to be short google to go down and test the real level which is about 510 which is the previous low. i was going to tell you during lunch to go short. it dropped about $15 in that time. better to not chase it at this point and wait to see what happens at 510. if we break we have more to go. if we hold the trade is in tact. >> what about the fundamental side? >> there is the issue today which is i would say this is the trees versus the forest. it is the paid click versus cpcs. cpcs is how much revenue for each click.

todd for us, thank you. what do you think could happen next with north korea? we'll get some insight now from gordonntributor, and author of the book "nuclear showdown: north korea takes on the world." you were just in the brian todd piece. and it was very interesting, you said, a clear violation of protocol that he didn't turn up to this big festival honoring his father. what is going on there? because his uncle was recently executed. so all is not good in north korea. >> no, it certainly isn't. you know, this is north korea, so any scenario could be possible. but i think that we're seeing too many events that suggest that there is not only a physical problem that kim jong-un has, but a political one as well. he missed two events last week to honor both his father and his grandfather, and you know, there have been so many perjures, unexplained deaths, killings over the last four years, this is just a regime in turmoil. so i think that at some point, and this could have been at the end of last year, kim jong-un lost a lot of his authority. >> it's interesting, because over the last three years, kim