Stocks Set for Lower Open as Bonds Continue Lower

Markets continue to struggle to find its footing on the recent dip.

Technical Edge — 

• NYSE Breadth: 57.5% Upside Volume

• NASDAQ Breadth: 37.9% Upside Volume

Please see today’s video for a reference on how the markets are shaping up and please look through the Go-To watchlist and numbered setups. 

S&P 500 — ES

Coming into Monday’s session, it’s pretty simple: We’re watching 4500 on the upside and 4444 on the downside. 

If the ES can push above 4500, that’s followed by 4515 to 4520. Above that opens the door to 4533-ish. 

On the downside, bulls really want to see 4444 hold as support. Below that level opens the door down to the 50-day near 4420, then the key 4400 level. That’s followed by 4366.

TLT

Bonds have been a big driver for stocks, particularly tech. Could we see an eventual move down to the 200-month moving average? 

Go-To Watchlist

*Feel free to build your own trades off these relative strength leaders*

Numbered are the ones I’m watching most closely. Please look at these closely, as there are several updates (the most recent of which are noted in bold).