Hello Everyone,
Gap and go trend day to the downside with the major indices closing approximately 2 percent lower on the session. On Friday, I posted a 15 minute chart of QQQ and SPX that both pointed to further downside ahead. On the weekend, I listed ES 4050 as important pivot support which if lost would likely target down towards 4000 which is what unfolded today. One thing to note, there was very aggressive buying during the late afternoon around the SPX 4000 level on today's profile. Tonight and early tomorrow, I'm watching ES 4015 pivot which break and holding above would target 4030/4050 while holding below would target 3995/3970/3956.
Please take a moment to look at the trade ideas.
