sp'monthly2b - Guppy
Summary
*most of you will have heard of Guppy... some guy from Australia I believe (often appears on CNBC-Asia).
The point is... ANY action under 1900 opens the door to 1750 or so.... next Mon/Tuesday.
Something to consider for those who think 'buying the dip' might be a good idea.
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So.. the market is NOT going to stop at the gap zone of 1954/51 today. Next support is the weekly/monthly lower bollinger in the 1920/00 zone.
If the market closes Friday near the lows, then the setup for Monday will be another 125/150pts lower... before first opportunity of a bounce.
Those with eyes on the bigger picture should not be surprised... at all.
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Other issues...
Oil -3.5% in the low $32s. A break <$30 would offer a market crash to the 1700s.
Gold continues to hold a fear bid,, +$5.
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Overnight action...
Germany: -3.4%.. having lost the giant 10K threshold. 8K is natural target.
Nikkei: -2.3% in the 17700s
China: opened sharply lower, market HALTED -7.3% @ 3115. There will clearly be a fierce battle around the 3K threshold, but I would imagine even the communists will wave the white flag.. and let the market implode to next support in the 2500s.
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Have a good Thursday