All eyes are on the Federal Reserve minutes that we'll see on Wednesday.
In the Monday morning session, equities are quietly trading in a lower range after suffering a selloff last week. The September S&P e-mini futures reached a low of 1,649 Sunday night, and are hugging that level early on Monday. We are still eyeing 1,347.50 as a level of solid support and will look to buy a fresh new low at that level. Still, if that new price is reached, buyers will want to see the market bounce off it, and not just sit there.
(Read more: Here's where the correction will stop)
As I mentioned, this week's biggest economic news will come on Wednesday, when we will get the minutes from the FOMC meeting that was held at the end of July. Traders will be looking to these notes in hopes of getting a better idea of what to expect from September's meeting.