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Hi Everyone
In few e-mails, that I received privately there is a question about
tomorrows' price action of the market.
I am watching S&P only, so here it is what I see.
I see coming Monday as a down day.
First strong resistance should be at area of 1443, where market will
try to recover, but it should not hold.
Next strong resistance should be at area of 1437.50. At that level it
should try again to recover, which it should not hold, as well.
For tomorrow, low of 1431-1430 is a high probability area.
If market will hit area of 1427.50 then it will be open to drop below
and most likely to area of 1416, where will be strong recovery
resistance.
This is downside scenario. I will not play upside price action
scenario because it is obvious for me that market will make new low.
Whenever market will hit resistance areas and will try to recover, I
will be a seller. There is also, of course, will be some different
moves- forces in between these levels which may "try to overwrite" my
scenario and the level as well.
At the present area of 1455, where S&P market sits, is the resistance
area also.
That is what I see, but market can do whatever it wants.
Val
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