Economic data this week includes:
Tuesday- PPI, Retail Sales, Business Inventories
Wednesday- CPI, Empire Manufacturing, Capacity Utilization, Industrial Production, Beige Book
Thursday- Building Permits, Housing Starts, Jobless Claims, Philly Fed
Friday- Michigan Sentiment
After a 3 day weekend I like to start the week off neutral and let the market show me where it wants to go. The futures are pulling back 7 ES points right now and could give us a negative start. The daily trading hours pivot on the ES is at 848.75 so above that and you gotta be bullish but if we can't get over that mark then they might try to at least half gap fill the Thursday gap up.
I see alot of people saying that this is the top and the VIX is now at 36 so that means the market is done ralying. Um no. the market will be done going higher when it stops going higher. Until then just trade what you see and not what you hope for.