Wednesday, November 9, 2016

A Historic 120pts Drop of the US Stock Market S&P500 Futures


A historic 120pts drop of the US stock market S&P500, following the US elections results, that was retraced more than 50% of its original plunge. I assume that circuit breakers were activated and the SPX futures market was "limit down", i.e. it was halted, or the government-operated Plunge Protection Team (yes, there is such people) got busy and bought the market, saving it from mass panic and sell off. Currently it is testing the 61.8% Fibonacci level for resistance. A break above this level I expect new all time highs and only the sky is the limit.

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