Can We Get The Bulls We Need? - Market Outlook

On the monthly chart the SPX is is forming a pretty bearish candle which, how bearish, will be determined by today’s trading day. If bulls can get back into the market it will make it for a less bearish candle but, there is a lot of points to make if bulls want to turn this into a doji. With everything going on in the world I find it hard to believe there are enough bulls to push this back up. I woke up in the middle of the night to find S&P futures down 90 points just to lay out some expectations. A break below September lows and I think we could be headed to 3000.
Enough with the negativity, we added a earnings duck yesterday before close in AAPL. We are looking to close that out this morning hopefully there is a sell off that allows for price to fall in our max profit bucket. We closed out a loser in BYND (hit stop loss) and AMD stop loss was triggered because I set it at the wrong percentage (otherwise would’ve been a winner). We also scalped PINS for a quick profit.
As I explained earlier, S&P futures were down a ton in the middle of the night but, they have fought their way back to a fraction of over night losses. With that being said, all futures with the exceptions of natty gas, gold and silver are red. Asian and European overnight markets were all red. Happy trading today! Join our trading community.