The markets look to be struggling here after putting in a bottom last week. The markets finally posted a close above a previous day's high, made on Friday of last week. This gives us confirmation of a support level and/or at least a temporary stop to the downward slide. How long it will last is anyone's guess; however, there is still much activity by both the bulls and bears.
The last two days have been volatile, but with one move erasing the next, no real gain or loss is to be seen. This doesn't mean we should stay completely sideways. With earnings season in full swing, we should look for some directional bias. There are trades to be made out there, although shorter term is still the outlook for now. Be mindful of earnings announcements and stay balanced.
Have a good night,
Maverick Trading
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