5 Fed Speakers Today, 14 This Week.

S&P continues to tighten its range. When will it break?

Technical Edge 

• NYSE Breadth: 74% Upside Volume

• Advance/Decline: 66% Advance 

• VIX: ~$17.50

We have 14 Fed speakers on the schedule this week and five of them will be today. So beware of any intraday headlines that jar the tape. 

We hit a couple of price targets in our individual names, which lets us “get smaller” and creates less stress in managing our open positions.

Notes: DXY. Keep an eye on that $102.40 level laid out from Monday. 

S&P 500 — ES

The upside has been capped by ~4175 (and more recently, but 4160-65). The downside limited to ~4115. We need a break of one of these areas to push the outer edges of the range. Even more recently, notice how the ES has pushed higher or lower, then retreated back 4140 to 4150 area by the close. 

• Upside Levels: 4170-75, 4198-4206, 4242

• Downside levels: 4110-15, 4100, 4075-80, 4063

SPY