USO consolidation and Value developed above gap- Closing Range and Settlement in upper half of distribution (bullish)- upside breakout/range extension potential- Value Area Higher
SPY/IWM consolidation and low volume Friday- Closing Range and Settlement into the high- Value Area Sideways
10Yr Bond down auction to demand- development of 121-126 range- Value Area Lower
*Earnings Season begins Tuesday- According to Bespoke Investment Group, since mid 2001,
SP 500 performance during earnings season is a cumulative -26.66% while SP 500 performance during non-earnings periods is a cumulative 2.87%. Statistically, those who are buying in the coming weeks are at best late to the party in all probability*
