The markets appear to be stalling out at their current levels, but we have yet to see any selling. It is still early in the week, so we could see bearish momentum pick up. However, without a move lower, we probably won't see an increase in selling.
The VIX has dropped into lows not seen since August of last year, making it difficult to confirm a top. We are extended in the market charts, but sentiment remains bullish. There is not much to go on yet as we wait to see what tomorrow brings.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
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