Hello Everyone,
Last week the market rallied to a new high from that wave 4 pullback (we called that wave 4 pullback currently). Today was mostly a consolidation day and we have a lot of pending news and earnings reports this week. Very short-term I can count 5 waves down intra day on a 5 min chart, thus hinting that we may have more of a pullback here. The VIX is concerning as it closed with a black candle close to its lower Bollinger Bands and sports positive divergence via the 5 RSI
Headline Releases Next Week:
1 FOMC Decision on Wednesday
2. AAPL Reports Thursday After the Close
3. Monthly Payroll Report on Friday
Also check your stock and ETF's with our KISS systems to give you an idea of where to place a trailing stop, here's a link
STS KISS Tables for Indexes, ETF's, Stocks
Regards,
Matthew Frailey
