I was looking lower for Monday and we got selling pressure in spades. Beyond that though, I was thinking it would be more up/down action. That may still be the case, but today's action did some technical damage, so we'll have to see.
S&P 500.png
DWCPF.png
Momentum fell hard on both charts. Volume was elevated, but not overly so. On the plus side for the bulls, price closed off its lows of the day. Also, the S&P 500 saw its 50 dma hold, but not until it was violated. Price closed right on it, so will it hold?
The options are neutral this evening. My intermediate term system flipped negative. Breadth is close to going negative. TRINQ closed at a very high level, so that's bullish for Tuesday (for the Naz).
So, Tuesday will likely bring a bounce. But how much of a bounce may be a tell for what we can expect over the next few days.
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