LEVELS

Equity futures are trading way lower this morning with the ES down 8.5, NQ -12.75 and YM down 65- and fair value was considerably red to begin.

Commodities and the dollar doing what one would expect - a higher dollar and lower crude, gold, silver and ags.

The weekly chart on the SPX looking pretty ominous as the MACD and Stochastics look like they are getting to rollover from over bought levels. Not sure but key levels noted below.

Some key levels include the 20 ema on the ES which is now way above at 916 and 1452 on the NQ-

The Monthly Pivot on the ES was pretty good support the last time it was tested so watch that level again today at ES 903.

SMA 50 area on the SPX is 898 and 893 on the ES and it is around 1405 on both the NQ and the NDX;