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The equity markets' down move this morning was not a surprise to traders, as outlined in yesterday's Blue Line Special Report.
Thursday's selloff, combined with an outside bearish day on Friday were both strong signals. The S&P has a strong support level at 4200-4205, but this week will be dictated by the barrage of earnings arriving the next few days ($MSFT, $APPL, $AMZN, $FB).
Earnings Calendar and Support & Resistance levels are highlighted in our Morning Express Research
Crude Oil is back below $100, as China enters it's 4th week of lockdowns. The ECB's sanctions on Russian Crude is looking like they will be watered down a bit, but this does not change our long-term outlook on the black gold.
Gold and Silver are coming off going into the Fed Meeting next week, but the roll off of the June contract could bring fresh bulls into the market.
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