This is a flash crash The Fed needs to do something./ 5,400 will be defended. The Fed must now consider .50 and other methods. We get to a point when the market begins to sell off faster to force the Feds hand. That is what is happening now. This will cascade out of control unless the Fed steps up. 5,400 is a support area<---- The index is also pressing into deep oversold territory on a short-term basis. Buyers will come in and defend the SPX somewhere within this 5,400 range. If the S&P closes below this threshold in coming sessions, it will set up a test of the 200-day MA for next support near the 5,100 zone.<----------- The S&P 500 5,400 zone is a 50% retracement of the July - August correction. Trading below this level will give off a bearish trading signal and the index would likely then test down toward its rising 200-day MA at 5100-<--------
Look at 1:00:: It's too risky for me but this is a place a chip long moment... SNP-Free Realtime Quote•USD S&P 500(^GSPC)- Buyers are coming in right at 5,400 5,426.64-76.77(-1.39%) As of 1:25 PM EDT. Market Open.
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