All three markets opened higher today, but could not hold their gains and ended up closing flat on the session. It has been a bearish week so far; however, we haven't yet broken support levels or bounced off of support.
Technically, the S&P and INDU are still in a corrective move and haven't given us much more to work with. For now, we should continue to stay balanced and look for the next move.
If the markets can break support with some decent volume here, then we could see some great bear opportunities. We could see a decent bounce after this move lower if support continues to hold, creating some bull opportunities as well. As you can see, the market situation hasn't changed much as we look to see how this week will end.
Have a great night,
Your Maverick Trading Team
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