SP500 breaks support, DJ30 breaks trend, following the small and midcaps lower. SOX remains decent.
– Watching support levels as more leaders start to fail.
– Retail sales decent enough though rising prices color the result.
– M&A to cut more US jobs
– Insiders selling at historically high levels.
– Is a rate hike really factored in?
– Largest option expiration in years looms with lots of long puts at lower SP500 strikes.
– The makings of another turbulent week. Time to protect positions, use moves to our advantage, be patient to let the next move set up.
In a nutshell, this weeks macro economic picture calls for possible downside this week. The Fed is set to increase, most likely 25 Basis Points. Want to read more? Head over to the Weekend Market Summary by Clicking Here!