Hello my traders and Investors friends.
Yesterday, we reviewed the decline in the Russell 2000. Unfortunately, today themarket moved downward again further complicates this situation. Today I show you a graph of the SP-500, which is a good example of the market. Technically, the index continues to weaken. Today was not able to maintain support of SMA50 and was on the verge of SMA100. If in the coming days can not pass this test successfully, the next support would be around 1295 points, ie 2% less than today's closing.
Most indicators have been revised, also show a sharp decline, so I consider it very likely that the market downturn to continue through the March test min (about 1250 points). Additionally, there are numerous opportunities for short sales, which would confirm the ugly state of the market.Good luck and move fast.
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