The Week Ahead

Today really skewed a lot of things, but just going from the trend prior to today, it wouldn't surprise me if we were very near the end of this bounce, maybe a day or two more, but I suspect we'll be seeing a lot more lateral (sideways) trade next week, a reversal process. which is where we'll find most of our short entries.

 SPY 60 min

IWM 60 min.

There normally would have been more mileage out of a base with this much gas in the tank, but the distribution trend this week has been relentless, Financials still haven''t recovered intraday. I suspect those yellow arrows will be heading sideways for a good part of next week with some volatility here and there creating short set up entries. I wouldn't add anything as far as market related longs at this point, I'd say we are right about at the apex or tipping point give or take a day or two.