Futures slumped again overnight, but as some thought was voiced last night, they look to open right around an area very easily turned to support.
SPY and the pre-market indication right under yesterday's support.
It would take some USD/JPY strength which looks to be starting to form as the $USDX sees the start of a positive divegrence intraday.
And the Yen sees the start of a negative divergence.
Also Treasuries which have gained all night sending yields and index futures lower, also have a small negative divergence that could add extra support.
It is an options expiration Friday so expect a max pain pin, it is usually close to Thursday's close which would suggest some early support off the open.
However by 2 pm the market will be free of the pin, I'd think they'll look for the now traditional feel good Friday close, however we'll watch the intraday charts of the cash market averages and see where opportunity is.
The most important thing going forward is this daily SPX chart has seen it's head fake area on a Broadening top, break.
In the days and weeks to come, the market should srr significant downside.
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