Asian markets held steady for most of the trading day, but sold off in droves at the end of the day despite a rate cut by the BoJ. European markets are down slightly, but not off kilter--still watching for last hour sellers.
US futures are down. The NASDAQ futures are down just over 2%. Subsequently, the Q's are going to gap down this morning. We'll probably see some channeling, and some downward pressure.
I am optimistic though, the markets will retrace down, test prior support, and head back up to try and break the resistance that has seemed to form right around 33. If we can break that I'd be happy. I am going to stay long for now, no major news to think otherwise, and market sentiment is slowly shifting.
Posts
