Good morning traders. Market gapping down to the lower extreme of Friday’s trading range. This market continues acting very resilient, with buyers at every down move. Late last week we finally saw leadership from the financial sector, which broke out from a 2 month trading range. In the next sessions I will be watching this sector for continuation. I wouldn’t be surprised to see rotation from the more extended sectors into financials. If the market is able to hold these prices, and hold above 122.90, I would look for a move to 124 SPY.

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124

122.90

122.20 pivot

121.15