We could be seeing signs of a small market correction this week, as the markets posted their second loss in a row. Seeing the markets put in two consecutive lower days has been a rarity over the last couple months, although they are now approaching some key levels. We haven't seen these market ranges since last October/November, so hesitation by the bulls would make sense.
Regardless of the last two days, the overall bull trends are still holding in all three majors. With a week and a half left in April's expiration and at the current market levels, moving to a more neutral outlook would make sense. Don't be in any hurry to add more directional exposure here; instead, try and focus on shorter-term sideways plays.
Have a great night,
Your Maverick Trading Team
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