Hello Everyone,
First off nice trades from the SPY systems DVDS short - closed about a $3500 profit
Quick Comments: Ugly day for the market, we favored more downside action to around the 4400 support area, now hopefully we can see an oversold bounce around these levels, if not then things could get ugly. Assuming that the market soon gets an oversold rally, we favor another lower high shorting opportunity.
Inflation CPI data on Tuesday and PPI on Wednesday
No follow through for energy stocks as they took back Friday's gains, and most precious metal stocks also reversed.
Matt
