Hello Everyone,

The market began the session with an upside gap that was quickly faded with QQQ rejecting supply zone and SPY/SPX pulling back after forming a divergent high (also looks appears that SPX completed five waves up).  Semiconductors (SMH/SOX) led the way today following a strong report from TSM but they also peaked early and gave back over 50% of today's gap open.  The higher time frame structures for SPX/QQQ still show the bulls in control but short term could see some pullback (trading against today's highs to potentially run some long stops below prior to resuming the upside). The mega caps earnings are upcoming which could be the next major catalyst. 

ES levels posted on trading community. 

Here's a link to Tonight's Newsletter.

Please take a moment to look at the trade ideas.