Hello Everyone,
Quick Comments: Nice pullback with the market today with the SPX losing -1.3%, The Nasdaq 100 -2.1%, and the Down -0.8%. A pullback/correction was logical to expect as price had tagged resistance on Friday and met nearly a perfect 1:1 symmetry move (see 30 min and 120 min charts). Also, an obvious rising wedge was visible on the 15 min SPX chart, which played out so far with roughly a 50% retracement.
A slew of economic news this week from ISM and FOMC, ADP, and nonfarm jobs report on Friday
UPS GM PFE MCD CAT PHM report tomorrow before open
I also added a few new trade ideas - they've been our bread and butter lately!
Matt
