S&P seems to found a some support on Thursday but again we are still behind the some heavy selling days in the market. If we don't get any bad news till tomorrow morning, I would like to see higher closing in S&P than Thursday.
We are right at the support as well. ANy lower price than 1389 may attract panic selling in this market. Market seem to have hard time holding up breakout price and that may be due to the overbought situation in this market.
Overbought-oversold indicator hasn't changed much on Thursday.....
My long term indicator has turned to selling last week...
Looking at the current situation, if we go down from here.... i will probably get more into cash and look for some shorting and long setups ......
We are right at the support as well. ANy lower price than 1389 may attract panic selling in this market. Market seem to have hard time holding up breakout price and that may be due to the overbought situation in this market.
Overbought-oversold indicator hasn't changed much on Thursday.....
My long term indicator has turned to selling last week...
Looking at the current situation, if we go down from here.... i will probably get more into cash and look for some shorting and long setups ......
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