The index pulled back slightly Tuesday, down to 32.68 from its yearly high of 32.94 achieved last Friday. The more recent price action has moved the index significantly away from the 20 EMA and when that’s happened in the past there’s been a pullback. In other words, it was expected to either pullback or trend
Weekly Thoughts
It doesn’t get much better than option expiration week. Throw in a nice little pullback and increased volatility and you’ve got a market again. Lots of economic data coming out this week starting Monday with retail sales. Tuesday has the Producer Price Index (PPI) and Wednesday brings the Consumer Price Index (CPI) both of which