All three majors moved higher coming out of the holiday weekend. The markets put in a decent reversal signal last Thursday, along with some follow through on Friday and today. This moves all three majors back up to resistance levels, with only three full trading days left to go this week.
We shouldn't expect much more than a revisit to resistance levels, unless we can find a strong catalyst to move the markets higher. Continue to lean towards a "cautious" approach, while taking advantage of this ranging movement and continued sideways trading.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
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