Good morning to all.....
SPX slides according to our view, lower highs and lower lows find support today at our red trend line. If 1209-1202 broken after the US markets open then the road to 1177 is open. If not then we could see a two day bounce. I wouldn't choose to go long even for the bounce....I would prefer closing part of my short position I opened at 1260-1270 area. Eurusd seems to have halted the steep decline and that is another factor that we should take into consideration. Markets may pause and bounce up, but in the end I give more possibilities to the continuation of the decline.
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