With the S&P trading below both its short and long term Chaikin trendlines, we have moved to the sidelines on bullish trend trades. The market could find a short term term bottom and bounce, but with significant technical levels breached, we are cautious about buying into it. We'll wait for price to get above above a the Chaikin Trendline and the Bull:Bear ratio to move back over 1. You can view the Bull-Bear ratio trend here. We may make some speculative earnings option trades in either direction this week.
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