This is a poor start to the week as the S&P 500 is down an ugly 3.3% and has seen virtually zero bounces today.
If you zoom out to the daily chart, the reciprocal pause bounce is quickly evaporating and we’re about 5% from a retest of the April lows.
I would hate to be a company that reports bad earnings this week. The big ones on the list are Tesla on Tuesday and Alphabet on Thursday but there are many companies that could offer up some insight on the economy.
This article was written by Adam Button at www.forexlive.com.
