Hello Everyone,
Narrow range trade today for the SPX/QQQ with the SPX falling around a half percent while big tech closed up fractionally. Outside of big tech, breadth was horrid (4x1 decliners over advances). Energy closed higher but well off intraday highs with XLE putting in a shooting star candle. Several other sectors came under heavy sell pressure today (XLI, IYT, XLB, XRT are examples). With that said, no major changes to the SPX with big tech providing support.
ES initial support below 4498 and 4492/87 with resistance at 4506/15 and 4524/27
Please take a moment to look at the trade ideas.
