Hi Shoppers,

Just when we thought it was safe to go long, bam!

The market gets a pretty wicked intraday sell off.

So where are we now?

Check out my ES S&P Mini Futures Dec Contract chart:

The neckline and that lower level of the pitchfork have converged to create formidable resistance.

Yesterday morning it looked like we were ready to bust right through that level and trade higher.

Then the ugly bond sale came out and we sold off creating a bearish engulfing candle on the day.

This looks like we are ready for a pullback.

Looking at tomorrow’s SPDR S&P 500 (Ticker: SPY) puts:

The 433 puts for under a dollar could be a good play.

As always wait for that confirmation, which would be an opening a trade lower.

Thanks for Reading … See You Next Tuesday,

Licia Leslie