Good morning everyone, and welcome to all who recently joined.
Last week markets remained volatile but traded sideways. No conviction in either direction. That said, this type of consolidation typically leads to a big move. The question is in what direction. We need to see confirmation early this week to better gauge. The recent sell-off that began several weeks ago could be taking a breather before the next leg down, or we could see a sharp recovery similar to the what we saw in equity markets last August. The next move will give us clues as to where we are headed so pay close attention and look out for intra-week updates.
Check out this week’s trade ideas.