As mentioned in an earlier, the S and P 500 is close to the resistance at about 1275 (having closed at 1289 last week). The BSC drop should be enough to blow through the resistance and may possibly lead to a decent drop. If the market starts falling, Short SPX could be profitable for about 20-30 points.
Another thing to consider is that the dollar has been killed against the EUR and JPY has been rising during overnight trading and will put further bullish pressure on the price of crude oil. Will poor economic news out of the US signal a slowdown in demand and put bearish pressure on prices is to be seen.
1 comment:
I'm staying the fuck out today this is going to be bad
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