Good Morning:

• Sellers remain in control, and we remain in cash.
• Futures are down 0.3% to 4378, but up from overnight lows of 4355.
• Today’s volatility should stay high with an implied move of plus or minus 1.17%.
• Resistance is at 4400 and 4420 (SPY440).
• Support comes in at 4355 (SPY435), then 4300.
• Risk remains elevated as long as the market is under the Hedge Wall at 4400.
• The market may gap down with a True Gap, and both Gap Rules and Spike Rules are in play.

Good luck if you are trading today. I skip a lot of Mondays because they can be weird sometimes. However, the overnight low almost delved into the Weekly Expected Low green zone, so that I will stay alert. Reference the Weekly Navigator Oracle published yesterday for more details.

A.F. Thornton