Good morning. Happy Monday. Hope you had a nice weekend.
I don’t have too much to add to the report and video put out over the weekend. Here’s the video if you missed it.
We have lots of conflicting ‘stuff’ out there. The charts look pretty good – most of the indexes closed at new highs on Friday and several key groups are sitting right at resistance. But many indicators are in overbought territory and in need of at least some backing and filling.
Very soon we’ll find out what comes next. I see a big move coming. This is a 4-day week…the market is closed Friday which means it’ll be slow the second half of Thursday. Hence there’s less time for the market to make up its mind if resolution is going to happen right now.
Here’s the 15-min SPY chart. Nice close Friday but lots of gaps below.
Be on your toes here.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s earnings & economic releases