The markets continued to move lower this week, as we are now starting to string together a small correction. The markets are indeed pulling back here...and with very little intra-day volatility. The VIX remains low and overall market volume remains average while we wait to see what happens at the next support levels. Look to 20,800, 2,350 and 5,800 on the INDU, S&P and Nasdaq, respectively.
The markets are still in corrective mode here. Although it appears to be a light pullback so far, we should expect some sort of push lower by the bears before the markets turn higher. Keep an eye on the above-mentioned support levels and market volume.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
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