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The $SPY ( ▼ 0.93% ) and $QQQ ( ▼ 0.85% ) today closed on levels that you don’t want to see if you’re bullish on the market and given the amount of economic data this week things can get worse if we don’t hold some key spots. We closed last week at $672 and unless we can get bids back above that then bears are in control so that is going to be the key for tomorrow on this broad market for those who track that.

It’s always important for me to track what the high time frame candles look like because they give you context to what happens on the smaller time frames so this is why I always look at weekly and monthly time frames, for context, so I can say that I am bearish until we get back above that level above.
My open trades from this week are inside
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