The market opened sharply lower today as turmoil around President Trump has increased. Reports of a leaked memo by former FBI chief James Comey spooked traders and is raising questions about whether President Trump tried to interfere with a federal investigation which is only adding fire to news that Trump disclosed classified information to Russia's foreign minister about a planned Islamic State operation. Interesting times indeed!
Both The S&P 500 and the DOW have issued new red weekly Trade Triangles signaling a move to the sidelines while the NASDAQ remains in a long position.
Key levels to watch this week:
S&P 500 (CME:SP500): 2,403.87
Dow (INDEX:DJI): 21,070.90
NASDAQ (NASDAQ:COMP): 5,970.25
Gold (NYMEX:GC.M17.E): 1,280.00
Crude Oil (NYMEX:CL.M17.E): 50.22
U.S. Dollar (NYBOT:DX.M17.E): 99.76