Here is the weekend look going into next week. Bearish feel on OPEX Friday which is typically marked my choppy price action as traders fight to keep price around key strikes. Last week closed at the low after trending down all day. Interestingly the small cap growth finished green on a day that interest rates saw a move up. So the weakness can be attributed to a drop in the mega caps tech names. Apple will be a key name to watch as it could bring down the entire market by itself. Price closed below the neutral(618) and is threatening to make a full AB=CD correction to the lower green box. The chart is a little messy but I wanted to show the fib clusters. Any area with a fib cluster could provide support. Obviously the Aug 19th low will be a key pivot if it drops that far this week. Good luck and happy trading.
Of Note: FOMC on tap this week and will dominate the narrative.