Charts point to a major reversal, with multiple blow-off tops across popular stocks such as $TSLA.

Today's reversal was partially driven by various headlines, with California closing indoor activities likely the dominant one. Chart is for $ES.

Earnings season starts tomorrow. Banks' earnings are key, particularly their loan loss provisions. Many people waiting for earnings to be a major bearish catalyst. Of course, it works both ways. So watch out for banks' results closely. https://www.wsj.com/articles/are-banks-afraid-of-covid-19-watch-how-much-they-set-aside-for-loan-losses-this-week-11594566000

Keep the big picture in mind:

major US stimulus package coming up by August 7.

That's the prize. Need to be positioned heavily long for it.

It would be great to get a washout this week and the next to trade long into the end of the month.