Key Algorithm Calculated Support Levels: 3857 (LARGE) / 3820 (LARGE) / 3800 (SMALL) / 3790 (SMALL) / 3725 (LARGE)
Key Algorithm Calculated Resistance Levels: 3943 (SMALL) 3917 (MEDIUM) / 3900 (SMALL) / 3880 (MEDIUM)
Assessment: The sell-off wasn’t big yesterday, but the lack of a recovery into the close was a change of pace. The past several weeks, any sell-off that has hit has been recovered and often before the close. Instead yesterday actually sold further into the close. So, let’s see what we get today. If there is further selling today, which it looks like there will be, then we might finally have a real sell-off on our hands… FINALLY!! The market and the bulls need it for a much better technical picture and to bring some cash to the sidelines for another run higher. The key level is 3820. A break there would signify a definite reversal. Good luck in your trades!