So after the 2425 area on the SP500 is tagged the market will be at an inflection point. It has the option to go down into the 5-7% decline or rally back to near the highs before declining 5-7% at a later date. The bounce off of 2425 will provide the first glimpse to which direction the market will be heading.
Why am I forecasting one more leg down to 2425? The English FTSE has one more strong decline left in its forecast.
I forecast the FTSE, offline, as it can sometimes provide insight into how the US market will open.
Do you know what causes the US market to gap up and down at 9:30AM? England's FTSE.
Submitted August 12, 2017 at 02:44PM by EQUITYFORECASTER