Hello Everyone,
Note the new trades on the SPY and ES Systems from Strap
As far as the market, it gapped down as we expected from our weekend analysis. The SPX got close to the 50 day MA (didn't quite tag it). The market bounced off the morning lows but in a very choppy (non impulse wave) and then sold off a bit into the close. The major indexes lost on average -0.7 to -1% today.
Otherwise no other major technical changes in the market from what I discussed over the comprehensive weekend newsletter.
CPI closed outside its upper Bollinger Bands for 2 consecutive days - that's noteworthy
Note: A lot of economic data this week from PMI, ISM, and Jobs report on Friday
I did add a few new trade ideas
have a great night!
Matt
