Everyone was looking for a correction and here we have it. We retraced about 2.5% from the highs. The SP500 is oversold in a very short term time frame. The open Monday is going to be key.
I have marked a line in the 1750 for a 5% drop. I will hedge the portfolio as we get close to that level – if we do.
Levels
| SP Levels | 1843 | High | Drop % |
| 1797 | -2.50% | ||
| 1750 | -5.05% | ||
| 1700 | -7.76% |
SP500
El EURUSD still trading in 1.36. We should see higher levels to continuo with the trend.
Gold is testing resistance at 1270.
