What John Howell said in this video:
- SPYneutralshort-termThe S&P 500 is in a sideways energy-building phase and a strong move is imminent, direction unknown. A break below 7,600 targets a strong downside move toward 7,300, while an upside breakout would bring a strong rally.Source
- QQQbearishshort-termThe Nasdaq is behaving more bearishly than the S&P after printing a false breakout; a rollover from here sets up a strong downside move.Source
- IWMbearishshort-termThe Russell 2000 made a lower low and its current rally is not convincing to the host, who sees the trend as having turned weaker.Source
- DIAbearishshort-termThe Dow is holding near a key level after a rally; if it breaks that low in the next couple of days it will follow through lower and drag the entire market down.Source