As pointed out over the weekend, we had the bearish wedge formation and this morning the markets started dropping.
We were expecting the market to supported by the FED helicopters but the selling was heavy and FEDS did not come to rescue.
For tomorrow, I expect SP-500 to rally back to 1171 levels before dropping down again.
Market should find support at 1150 level.
Market should find support at 1150 level.
The other possibility is that the FED helicopters come rescue us tomorrow, we saw little hints of it at the market closing. This kind of activity has happened in the past Look the charts closely.
I sold some of my ETFs and my stocks today.
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