Look at this Renko chart (which I use to get a better fix on mid-term trends).
As you can see from this chart, we are clearly in a bullish phase with a smaller bear-trend pullback.
With majorly strong support for the S&P at 900 and the contracts sitting at around 912, a monkey can predict that Tuesday won't see much of a down-trend.
Of course people were selling before a long holiday, especially with terrorism concerns. Provided nothing extraordinary happens, we should see a climb back up on the S&P until resistance is hit again at 925 -- which we will either break or flirt with for awhile longer.
The market is unique at every point, but this is just my best educated guess based on S/R, technicals and fundamental overview.
aphie
As you can see from this chart, we are clearly in a bullish phase with a smaller bear-trend pullback.
With majorly strong support for the S&P at 900 and the contracts sitting at around 912, a monkey can predict that Tuesday won't see much of a down-trend.
Of course people were selling before a long holiday, especially with terrorism concerns. Provided nothing extraordinary happens, we should see a climb back up on the S&P until resistance is hit again at 925 -- which we will either break or flirt with for awhile longer.
The market is unique at every point, but this is just my best educated guess based on S/R, technicals and fundamental overview.
aphie