- Investors on "Fed Watch", expecting an announcement this week.
- 8:30am durable goods orders m/m.
- Global economic fears remain.
Technicals: Charts showing an uncertain range in the form of a wedge. Usually what you see in these types of conditions is uncertainty / a battle between bears and bulls, until a convicted direction forms. I have slower charts showing long signals, with this sell off being a pullback. On the medium and faster charts, I'm getting mixed signals with flat price movement.
Course of action: Let buyers and sellers battle it out, once I see power from either side, I will then consider a trade. I will not place any trades until the durable goods orders come out which may be a catalyst for a move in the market.
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