Dip Sends Us Back Into the Range 😖
We have our trades and our stops. That's all we can control
Technical EdgeÂ
NYSE Breadth: 43% Upside VolumeÂ
Advance/Decline: 38% AdvanceÂ
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.Â
With the dip, the S&P is right back down into the zone that was driving traders crazy just a few days ago.Â
S&P 500 — ES
4150-55 held yesterday’s low, but weakness persists this morning.Â
Pivot: 4155
Upside Levels: 4166, 4183, 4195-4200, 4225
Downside levels: 4140, 4115-25
SPY
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