• There are so many US Fed officials speaking this week, I won’t mention each one, just know they’re all week at all times.  Click above to see them all.
• Monday: ECB - Lagarde @ 9am EST. BOE Tenreyro @ 12pm EST
• Tuesday: ECB - Lagarde again @ 7:30am EST, Durable Goods @ 0830; New Home Sales @ 10am
• Wednesday: More Home Sales data @ 10am EST
• Thursday: Jobless claims @ 830am; GDP as well.
• Friday: PCE @ 8:30am; Mich Consumer Sentiment @ 10am - I think day this is most important of week?

• What a wild ride the last two weeks have been.  It was fun and profitable, but the volatility and big moves are going to taper down.
• I don’t see any 10+ moves coming up for a while, so manage expectations and embrace the chop.
• The move is longer-term (more than a couple weeks, let’s be clear) swings, NOT intraday trading.
• This week is full of US Fed officials talking.  What are they going to say that JPow didn’t already say?
• They are split on the Dot Plot, so maybe you’ll see them pitching their view on that.  I don’t see any of them being market movers, for the most part, unless one of them comes in from the top rope with some crazy talk.
• The bulls will be looking for any hope at all, but I think it will get faded quick.   There’s no reason to buy long-term right now.  However, technicals are either oversold are getting oversold - so there will be consolidation or a bounce in very short-term.
• Overall, I think we’re looking at a slow bleed for next couple months, with pops of hope along the way.  Until AAPL falls - then we’re going down hard to fresh new lows.
• Homes data should confirm what JPow said - cooling in progress.  Thursday may say a pop if the Jobless claims indicate rising unemployment - but unlikely this week.
• DXY is going to dance a bit this week.  It’s already moving big on Sunday night and with ECB dragging their ass, it’ll continue to trend up.  Once the other central banks start catching up, DXY will settle down.
• We’re walking into earnings season.  If AAPL shows any cracks…..
• Which, again, I think puts us into a slow bleed with con

• SPY levels:  355, 363, 373, 380, 390
• Chart - Weekly: Bearish - just carrying with the move down.  It’s going to 350 at some point, at least.
• Chart - Daily: Neutral - oversold just slightly, bounce coming.
• Chart - 4h: Bullish - oversold and turned up already.  Relief rally coming, but no thank you.

• I’ve got 1 SPX 3650p 10/31 that I held over weekend.  May sell it, may keep it.  I don’t think I’ll be adding to it.
• I don’t think there’s much meat on this bone to go down in the next few days - outside of additional bad news internationally - which is certainly possible.
• There’s more opportunity to the upside off these technicals - but not long-term.  If you play the upside, take it quickly and don’t go big.
• I’ll be looking to fade any rips to any of the levels I noted above, though I’m in no hurry.