We'll see if Monday's candle on the Broker/Dealer Index is a bearish 'Evening Star.' If we get confirmation today (Tuesday), we could see a drop in equities soon.
***UPDATE: As of today's close, the 'Evening Star' pattern has now been formed. We'll see if we get bearish follow-through next...if so, equities should follow or vice versa.
Of the 9 Major Sectors, Financials was the biggest loser in today's decline.
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UPCOMING (MAJOR) ECONOMIC EVENTS...
* Thurs. Aug. 24, Fri. 25 & Sat. 26 ~ Jackson Hole Economic Policy Symposium -- (Fri. @ 10:00 am ET ~ Janet Yellen speaks)
* Fri. Sept. 1 @ 8:30 am ET ~ Employment Data
* Mon. Sept. 4 ~ Labour Day holiday...U.S. markets closed...Canadian markets closed
* Wed. Sept. 6 @ 2:00 pm ET ~ Beige Book Report
* Tues. Sept. 19 ~ 2-day FOMC Meeting Begins
* Wed. Sept. 20 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Wed. Oct. 11 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Tues. Oct. 31 ~ 2-day FOMC Meeting Begins
* Wed. Nov. 1 @ 2:00 pm ET ~ FOMC Announcement
* Tues. Dec. 12 ~ 2-day FOMC Meeting Begins
* Wed. Dec. 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference