Global Markets Break Hard to the Downside - Watch These Support Levels

Research Highlights….

• New reports of widespread financial corruption likely triggered the current sell off.

• Watch out for market support levels to see if this is a short term correction or the start of a downtrend.

• Support for the DOW is just above 26,000.

• Support for the SP500 is around 3,100.

U.S. and global markets were already under pressure over the past few weeks related to COVID-19 issues and global economic expectations. The technology sector had driven valuations to levels not seen since the DOT COM bubble near the end of August and many of the US Indexes has reached or breached all time highs again.

My research team and I warned followers to “stay cautious” throughout much of the price rally as our proprietary price modeling systems suggests the rally was isolated and not organic. The U.S. Fed has spewed capital into the markets and speculative traders piled into the “excess phase” of the market to drive price levels higher. Take a moment to review these recent research posts to learn more….Continue Reading Here.