TA update.
Strong reversal patterns on both the Dow and S&P (strong evening star candlestick and break of 10080 gives miminum target of 9980).
If 9980 goes this will break the 3 month support line.
There is a possibility of a backtest to 10080 on the Dow and around 1157 on the S&P.
There is a good chance of the Dow dropping to around 9400 and possibly even 9000 in January. Now thats a bearish prediction!
The Fed will be doing their best to stop it.
Support levels
Dow 10,000, 9980, 9800, 9740.
S&P 1140, 1130 (to break 3 month up channel) 1115 1100 (major).
Regards,
Ian