Market Crash Watch for 10-08-12

Stock indexes are potentially setting themselves up for major drops, if today's lows are taken out.

The S&P500 240-minute chart tagged support and tried to rally. Breaking this low would likely send it much lower since the SPOOS (SP500) failed to close above our first profit target on our last buy signal. You should have been out of half your long position at the first profit target, the remaining moved to break even as suggested.

See the S&P daily and 240-minute chart below, as well as NASDAQ and DE30 (Germany 30 stock index CFD) daily graphs with analysis.

s&p500 daily chart with analysis

s&p500 240-min chart

nasdaq daily chart

de30 index germany daily chart

Please leave us your questions or comments below.

This entry was posted in Forex Forecasts. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

7 × five =