Dip Sends Us Back Into the Range 😖

We have our trades and our stops. That's all we can control

Technical Edge 

• NYSE Breadth: 43% Upside Volume 

• Advance/Decline: 38% Advance 

• VIX: ~$19.50

Getting some turbulence after yesterday’s decline. I don’t think the market is necessarily paying attention to the dollar (DXY) or 10-year yields (TNX), but they were a warning sign yesterday. The VIX is now up more than 20% in four days as our short-lived upside range break starts to fizzle out. 

With the dip, the S&P is right back down into the zone that was driving traders crazy just a few days ago. 

S&P 500 — ES

4150-55 held yesterday’s low, but weakness persists this morning. 

• Pivot: 4155

• Upside Levels: 4166, 4183, 4195-4200, 4225

• Downside levels: 4140, 4115-25

SPY