|
The S&P 500 continued to sell off today as we had called for change in trend for 23 March and we had hit our high of 2114.86 as we had called for major resistance at 2115. We do believe we should see further action to the downside and we'd called for support at the 2090 level and so far we hit the low today of 2093.94. As long as prices can hold the 2090 range we could see another retest toward the 2120 level but we believe we will see further action to the downside is more likely to happen. Traders need to watch for any violation through the 2090 to 2085 level as we believe we will see prices break down toward the 2045 and very likely to the 2000 level.
|
