Hello Everyone,
Quick Comments: Early morning strength was faded, and so while the major indexes all closed up 0.3% - 0.4%, they closed well off their highs.
No major changes from the weekend analysis
Short term, the indexes are coiling and we are likely to see a breakout from this range. An obvious coil on the 10 min time frame of the SPX, and a diamond pattern on the 2hr.
Note: Both the VIX and SPX were up today and we are starting to see an uncorrelation with the VIX and the SPX
KISS - watch MSFT, AAPL, AMZN, GOOG
As far as trade ideas - slim pickens out there. We are in summer chop now as well.
ultimately all paths eventually lead to lower prices do we start heading down now or do prices chop around higher for a month before heading back down
Matt
