-instead of follow through after a hopeful Mon, mkt tripped and fell flat. Selling started from 11.00 pm with HS ( -500/2.5%) and China (-75/2.5%) starting the selling mode with saw even more selling in the PM. Banks took big hit. Excuse : Chinese bank freeze lending this mth, the remaining days
-regional -2.5%. Europe -0.8%, down fifth straight day. DJ futs -45 off lows of -80, probably the only positive sign today.
-fkli is a bear mkt for now after a sudden big drop –meaning sell on bounce kind of thing. Below 1282 is bearish, targeting 100 SMA support, 1255++ or 2009’s closing of 1266.5. Immediate resistance is lowered to 1290 from 1300.
haih . caught me by surprise. ended up me covering all my short positions yesterday before today's big hentam down
ReplyDeleteyes a sharp reversal kind of move i guess it caught many by surprise...not just you.
ReplyDelete