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Good afternoon O$ traders!
Today was not as exciting as Friday that’s for sure. As you can see from the /ES futures chart today, the day was just spent rebalancing. No big swings to make it worth risking a short-term play, and only a slight bias for the bulls to continue their reign. Amazon and Google were doing a good job establishing a floor, but not ready to pull the trigger yet on calls for them just yet. Tesla also looks like it may be ready to break to the upside if it can get through that 230 level again.
I’ll keep an eye on overnight futures and see how we open tomorrow to see how we lean. We also have the FED rate decision this Wednesday, so tomorrow may be another muted day until all is revealed on Wed.
–Mark
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