NQ Breakin' the Lows

RTY is off its low and ES is well off its low.

The Russell 2000 looks like an inverse H&S pattern. Will it hold or fail is the big question for this week.

Four Fed officials speak on Tuesday, including Powell's confirmation hearing. Two of the other speakers have escalated the Fed's hawkish rhetoric in recent months. On Wednesday and Thursday, the CPI and PPI will be reported. The market's path this week may be determined by whether all of these fall in to hawkish or dovish column, and whether they surprise or not. For today, bulls want NQ to retake 15500. For the week, bears want to see RTY lose the 2100 level.