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Published on Oct 11, 2016
The
S&P 500 fell rather significantly during the course of the session
on Tuesday, as we saw quite a bit of volatility in the markets. However,
I think that the 2120 level below should be rather supportive, and
possibly even extend all the way down to about 2000. With that being the
case, I have no interest in selling them I look at this potential
pullback as value that we might be able to take advantage of going
forward. The first signs of support near the 2120 handle would have me
very interested in going long. Having said that, I have to admit that
the candle was very negative, and that of course is something to pay
attention to but as things stand right now, we are still very much in
the uptrend and overall consolidation of the last several months.
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