New environment

The Monday after expiration usually brings a new environment with different players establishing new positions in the market. We will see how volume and volatility increase as the daily ranges last week were very tight. Whenever the market tightens down like this, LOOK OUT! as we are due for a big move and you don't want to get caught in it so be on guard at all times. The action the last couple of weeks in regards to the consistent up move in stocks on low tick would seem to indicate that the odds for a sharp down move some time this week are a good probability. The daily CCT indicator is still hovering around +220 which is overbought and we need some heavy minus tick to balance things out. The only news item we have today is the Housing Market Index at 10:00 AM ET and this will be widely watched by traders.