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
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