Key Algorithm Calculated Support Levels: 3880 (MEDIUM) / 3857 (LARGE) / 3820 (MEDIUM) / 3800 (SMALL)
Key Algorithm Calculated Resistance Levels: 3943 (SMALL) / 3917 (MEDIUM) / 3900 (SMALL)
Assessment: More selling to open the day and we broke through some key levels recently. Usual caveat with Monday morning… it could just be traders readjusting their portfolios after the weekend. Last week was also a school holiday week for many areas. So, you could have a large number of traders returning to action today. As such, let’s see how the morning goes. If this is real selling (finally) then we should see it accelerate when we get to around 11am ET. Good luck in your traders!