Hello Everyone,
No changes in prevailing trend (down) today with today's early spike on the SPX/QQQ completely erased by the early afternoon. With that said the QQQ/SPX are still above/around their respective 50 day MAs with some positive divergence on the intraday time frames. We have the PPI tomorrow and the bulls have an opportunity to bounce but we really need to see big tech (AAPL) hold serve and begin to move upward. The onus remains on the bulls. If they fail, we could see another push downward.
ES 4493 4509 first levels overhead with 4475/70 initial support below.
Please take a moment to look at the trade ideas.
