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If the shoe fits…
Markets ended a bit lower Monday after last week’s news-driven frenzy. Today’s turnover was much lower as the market was down most of the session, something you like to see if you’re somewhat bullish. Volatility is here to stay though, and the VIX is the king….it wreaked havoc all day long. Breadth was horrible though but this could be considered a respite before the next move…higher or lower? Tough to say, but the fact is the 50 MA is acting as strong resistance, so we have to see how the averages work around it. News with the Fed meeting tomorrow and some big earnings numbers will be released this week, not to mention CPI and other economic reports…and don’t forget, a big expiration week to boot!
Have a great night, hit ‘em straight!
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