The S&P 500 reflexive bounce didn't travel really far, and appears to have run into headwinds.

The inflation expectations could leave some market participants thinking that the Fed will be less active in its monetary policy stance, while consumer sentiment could beat expectations. Still, forward-looking inflation would count more, which is why I look for more downside in stocks first.

Please see the Trading position section for details.

Trading position (short-term; our opinion): short positions entered at market (that's 3054 currently) (100% position size) with a tight stop-loss at 3075 and the initial downside target at 2990.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.