Hello Everyone,

Snap back rally today in most risk based assets following Friday's plunge.  The SPX/QQQ retraced approximately 50% of their declines while IWM actually retraced around .618%. At this time, I'm still viewing this as a larger degree Wave 4 that can unfold as a triangle, flat, or zig zag. Thus far, the intraday view appears to be three waves up with a large gap below from today's action. Friday's downside ripped thru several support levels and thus the bulls have work to repair. A full retrace on ES would be back up near 6766 level. For now level to level as structure develops further.

Here's a link to Tonight's Newsletter.

Please take a moment to look at the trade ideas.