Many have asked for my latest thoughts on the happenings in the “markets,” especially in relationship to my prior observations. So it is in that vein that I share what I’m currently focusing on. To wit:
The above is the S&P 500™ futures as of this writing before the markets open. The reason why I’m paying attention to it is that it is exhibiting near picture perfect textbook examples that would signal that the selling may be far from over.
Doesn’t mean that it will, it’s just that the odds of it are ever increasingly so.
So what would raise the odds to their highest interpretation one might ask? Good question, and here’s my reasoning:
Should the lows of yesterday (you can see on the above chart it is about 2720 using the futures) be tested, then broken through with follow-through the selling could get very ugly indeed. Much more than has been exhibited as of late. And no, that’s not using hyperbole.
As always, we shall see. But for those wanting to know, that’s what I’m watching.
© 2018 Mark St.Cyr