I don’t think the battle between bulls & bears will be decided to at least the majority of the FAAMGs have reported, which will essentially be tomorrow with both MSFT & FB reporting after the close today. MSFT broke below a well-defined price channel off the Oct 23rd low (60m chart) along with AAPL on Monday but while AAPL is currently backtesting its comparable price channel from below, MSFT bounced off the 160.65 support on Monday & then snapped back up inside the wedge. Essentially, we need that one to break down back below that channel to sharply increase the odds of a correction.

SBUX shut 2000 stores across China due to WuFlu ‘material impact on Q2 revenues’
https://www.ft.com/content/3f753fb8-4202-11ea-a047-eae9bd51ceba

Even if AAPL gaps up on open, as implied, enough is being trimmed elsewhere, to say we could likely see pressuring a bit down…just not sure how much red we’ll see till perhaps, FOMC annoucement@ 2pm EST. Thinking we’ll gap down 1/2 pt, then stay in tight range till then?

For now :) lets see on market open.