Risk Update: SPY/ES, QQQ/NQ, ARKK, AVGO

Watching this week's action unfold early on Monday.

Hello and good afternoon members. I wanted to send a risk-on/risk-off update. This morning we discussed some pretty key levels in all markets. I want to touch on those again as we approach lunchtime. 

As a quick refresh, we were cautious with the ES futures between 4540 and 4580. For the QQQ, we were watching $363. So far, both areas are acting as resistance today. 

This is not a “we’re done for” call. Simply stating that as we approach key zones, be mindful of how the market reacts. Specifically, do longs have legs or do they need a rest after a big run?

S&P 500 — SPY and ES

We have a clean rejection from the 61.8% so far, but now I’m