By Markus Heitkoetter
U.S. equity markets started the week on a negative note, with tech stocks leading the move down. The S&P ended 9 points lower, while the DOW lost 26 points.
The Simple Strategy continues to be a great strategy for participating in these recent market trends. We had a nice Short Signal in the E-Mini S&P following a break of the Previous Day’s Low. The E-Mini S&P was down as much as 15 points before the market found support at the S2 Pivot.
Netflix (NFLX) showed the greatest weakness in the S&P 500 today with a -6.7% drop. The move lower pushed right through our Power Crossover Method Average Daily Range target at $399.71.