Markets are falling today. I issued a warning in a previous post.
There was a gap down today on many indexes. Fall was especially brutal in the BRIC markets (Brazil, Russia, India, China).
See the hourly chart above of the SPY ETF (linked to the S&P 500 index). The support at 99.4 has now become a resistance.
On the weekly chart above, the resistance at 101.72 could not be crossed. See my previous post on this topic. The question is now: How big will be the correction to come?
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