06 February 2018

US Stock Market Futures Slumping Overnight After Initial Plunge

After further declines to support levels after hours, that reached down well below the parabolic breakouts, the SP 500 and NDX futures have rallied back a bit to try to find support.  But the gains of this year and much of the rally from the end of 2017 have been erased.

I have put updated charts in tonight's regular posting showing some more aggressive correction levels.

Tomorrow is likely to be a pivotal day, as the bulls will attempt to find a footing and buy the dip.  They made an attempt yesterday that failed.

I think that they will try again tomorrow and most likely will have some help from their friends in the Exchange Stabilization Fund, aka the Plunge Protection Team.

But even for those with money to burn, it can be hard to catch a falling knife.

Let's see what happens.