Just a couple of observations….

S&P 500 came down to where the rally started 2 weeks ago. The P&F chart now looks like all new weakness under 1298 or strength over 1318 is needed for directional follow through or change. Price action over 1307 is now needed for an attempt at 1318.

Nasd shows 2355 & 2321

Euro…This currency has basically completed a 2 year re-trace. The specific levels to watch on the downside are 137.84 ( 30 % Fib coming down) and 137 as overextended the first time down. An 80 point reversal is needed off any low to think the worst is over.

We currently have no positions!

There will be no further comments until Thursday