Buy the Dip? First Notable Opening Pullback in a While

NFLX disappoints. TSLA is up to bat next.

Technical Edge — 

• NYSE Breadth: 53% Upside Volume 

• Advance/Decline: 45% Advance 

• VIX: ~$16.75

NFLX originally saw a dive after reporting earnings, but recovered nicely. Can it stabilize today?

We’re coming into a session where the S&P 500 is finally under some selling pressure. There were some interesting divergences in tech yesterday that are highlighted below as well.

Above all, we’re keeping it short & simple as we enter Wednesday’s session under pressure.

S&P 500 — ES 

• Key Pivot: 4175

• Upside Levels: 4200, 4217-25, 4240-45

• Downside levels: 4142.50 + 10-day, 4115, 4095-4100

If we see that 4142.50-ish area and the 10-day, it’s hard not to try for a dip-buy.

SPY