The SP500 had 3 days of down pressure with a slope of -42º. The overnight low of 2068 which is 30 points away from the last move up. Hold the hedges on VXX
This is going to be a very busy week in terms of economic news. We have a lot of big reports due out such as Retail Sales, PPI and Manufacturing, and CPI. The biggest news will come out Wednesday when the Federal Reserve releases their minutes. There is strong belief that the June minutes will bring no rate hike but we should get a report of when each of the Fed members believes interest rates will rise.
