A few notes for today's analysis. We need to confirm if the recent moves have been corrective retracements or if we are seeing a change in direction. The market tested recent tops and bottoms throughout yesterday's session but was unable to break them and we continued to see consolidation. We'd like to see a breakout; however, we expect more range trading as economic data has been mixed over the past 4 days. Chatter in the market about possible risk aversion that may sneak up on the market causing the dollar to rally. Watch out for big swings, use less leverage, and keep stops further apart to allow for increased volatility.
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