For Monday I am starting neutral and looking for a decisive move either below 875 or above 900. More likely I will take short entries in the beginning of the week. The daily pivot for Monday on the ES is at 894.25. As of Sunday evening we are trading 881.50. If we get a move back up to the pivot then I wanna be a seller of that if it rolls over. Also there is a short ambush possibly setting up if we get to the 891.25 area and roll over. I will not be considering long setups unless we somehow get over 900.
Economic data coming out this week includes:
Tuesday- Treasury Budget
Wednesday- Retail Sales, Business Inventories
Thursday- PPI, Jobless Claims, Philly Fed
Friday- CPI, Capacity Utilization, Industrial Production, Michigan Sentiment
So overall this should be an interesting week to see if the SPX retakes the 915 level to the upside or breaks below the 875 support area and continues lower. Anything can happen so be ready for both scenarios. And of course trade with stops.