Good morning, everyone and welcome to all who joined over the weekend.
As mentioned last week, support on the S&P 500 was at the 5,900 level, which we came within 25 points of touching on Monday, only to reverse course and head back towards the high. The bounce off support is definitely a bullish sign, but the weak close on Friday tells us that volatility is not going anywhere just yet. For the bulls to really take control, we need a break above 6,130. Let’s see if we can make that push in the coming days.
Check out this week’s trade ideas.