The markets continued to hold at their current "basing" levels. We have seen some decent fluctuations over the last few days, but major support is still intact across all three majors. We should expect more of the same as the bulls and bears continue to test each other here. The longer the markets consolidate, the easier it will be to identify the next major catalyst, as we won't see a directional conviction without one.
Continue following sector strength/weakness and make sure to add a sideways element to both directions. Don't over-expose yourself here...the markets are not going to reward any "one" direction just yet.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
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