Monday, October 22, 2012

S&P 500 ~ Pre-Market ~ 22 October 2012

I didn't expect such a big sell-off on Friday but well, there we are, back at the support at 1430:

Thus, if you're short, it might be time to sell a part of your position.

If the SPX forms a bottom today, we might rally back to the top of the channel once again. Should we convincingly breach 1425-30 though, a decline to 1400 seems likely.