The S&P 500 (SPX) bounced off of Major Three-Star support, giving S&P 500 ETF (SPY) & Invesco QQQ (QQQ) traders a nice start to the week, observes Bill Baruch, president of BlueLineFutures.com.
4200 was the high today, which is a 10% up move from the lows.
Crude Oil made new overnight contract highs but is currently $5 off of that level. Managing your downside with stop losses is key to longevity here. Gold and Silver are both hitting resistance, as the dollar is rallying. We remain cautiously bullish.
Learn more about Bill Baruch at Blue Line Futures.
