Last Friday, the market was trying to hold its ground and trying to stay in the green throughout the day until the late afternoon. As the market headed toward the close, the bottom fell off and the entire market sold off once again. The price actions pretty much play out to a scenario we have discussed in the previous video. Now for next week, the key levels to watch are those psychological round number levels. For the DJIA, the round number is 16,000, 1800 for the SP500, 1100 for the Russell 2000, and the 4000 for the Nasdaq Composite.
Here is a short video review the price actions for the market indices and a look at some possible scenarios for the coming trading sessions.
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Disclosure: Long SPY PUT.
