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Published on 31 Oct 2016
S&P
500 markets rallied after initially falling on Monday, as the 2120 has
offered quite a bit of support. The fact that we formed such a negative
looking candle has me wondering whether or not we are getting ready to
break down below the support. If we do, we will have to get through the
2100 level in order to continue to drift much lower. Rallies at this
point in time could be sold off but a break above the top of the
shooting star could be a very positive sign and therefore I feel we
would probably reach towards the 2160 handle at that point in time. This
area is massively supportive obviously, so having said that it’s not a
huge surprise that if we take off to the upside from here.
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