A.M. Update

Good morning,

I'm not going to go through all of the news, just some expectations from last week and what they'll mean to us early this week. 

In Friday's Market Update / NEXT WEEK I see enough positive divergences for a bounce but said first I expect for Monday,

1.  "The IWM 2 min chart would be where we'd pick up next week as that's what we see most often with 3C, thus a pullback early next week which would create a wider base than today's "V" shaped base,  the key will be accumulation in to a pullback."

Thus far that pullback is exactly what we have.

SPY pre-market.

What I'll be looking for is whether there is any accumulation in to any moves lower, if there is, we likely bounce with the same warnings from Friday's post linked above, if we do not see accumulation in to the pull back, the market should be ready to make a lower low, either way a lower low is coming whether we bounce or not.

More after the open.