Sforex
Short

OutLook for SP500

INDEX:SPX   S&P 500 Index
209 4 1
Today, S&P500             had a sharp decline from Sep 20.

I really don't know what cause this decline. It could be from bad NFP report or the ongoing fear of taper.

US Dollar             devalues against all major currencies .

If bad NFP report is cause: Equity increses and Currency decreases.

If fear of taper is cause: equity fall down and currency soar up.

However, the fact is opposite.

No matter what what caused that decline. I think SP500             after pierced the key support I show on the chart, it will test next support 1810.55.
To cut a long story short...reson: Charts dictats news not the opposite. So don't look for a irrational reason like this month NFP. Have nothing to do with it. Sorry to be so frank! ;) BM
Reply
WallStScalper PRO WallStScalper
2 years ago
And yes I agree in your chart. 1810 good support zone for ending of a 5th wave down
Reply
WallStScalper PRO WallStScalper
2 years ago
What becomes much more interesting is how far do SP bounce up from 1810? Everything under 61.8 is a short. If 78 and fail ...we will see a huge 3rd wave down
Reply
profitmaker999
2 years ago
After the new year, most penny stocks go up sharply, but others can not hold high price area.
Reply
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