The Hits Keep Coming

It’s a rare Monday morning when a ramp doesn’t appear in time for the open. But, the hits keep coming: more trade problems, more political and economic problems in the euro zone, and the failure of the USDJPY to hold important support. And, the oil and gas decline might not even be over.It’s a sloppy start to what could be a simple backtest of ES 2.24 at 2728.79, but could easily accelerate to test the SMA100 at 2704. SPX’s 2.24 at 2703.62 is a good 51 points below Friday’s ugly close.