Overnight session, market tried to breakout Friday's high and got rejected. Question is will the market test the overnight low before deciding on direction.
Market will probably test 200 MA today before making any move.
If overnight trading is any indication, today will be a range day.
Overnight session market sold off first, then to rally in the morning. It is very likely to test March 4th high before it sells off.
It seems that market will open with a big gap up. Question is will it close the gap. During overnight session market tested 2800 level and sold off. If bulls cannot take out 2800 level then bears will probably take control.
Friday afternoon market rallied into close. Can it continue to rally or will it sell off again.
So far this week, market has given back last two weeks gain. Is this the end of the rally that we had for last ten weeks.
It is very important to watch price when it gets near a resistance and support. In this case S&P 500 has failed to stay above Resistance.
Yesterday's day session low was above Monday's low when market sold off very aggressively. Does that mean that the market could rally today and stay within a range.
After yesterdays sideways action is the market ready to trend again. Good day to watch VWAP line.
After yesterdays aggressive sell off, bulls rallied 50% of the sell off. Or is the beginning of sell off after market rallying for last several weeks.
It seems, market will open gap up. Question is will it retrace and close the gap while testing 200 MA.
Market rallied during overnight session. Given that market has made lower highs all week, it is very likely it will sell off to test 200 MA.
Since February 25th high market has made lower highs. I suppose market might sell off this morning then rally like yesterday.
For the fourth time market has touched this level near 2814 but it sold off aggressively yesterday.
Overnight session market came within couple of points to testing 2800. However, it sold off aggressively. If market does rally to test 2800, then it will be the fourth time to do so in last five months. It is important to note that this rally has been mostly with less than average volume. Which makes this rally a suspect and how much higher can it go.
Overnight session market traded within a tight range, less than 10 points. Also market could not hold trading above 200 day MA in smaller time frame chart in smaller time frame.
Overnight session market sold off and tested yesterdays day session low and now it is testing the high. Nice V shape.