S&P bounce and further downside

1 Mar 2020

There's been a lot of talk regarding rate cuts we could have possibly seen that priced in with the bounce on Friday and initially I was looking for it to back test around 3060 but with bad news piling in (first US death/community transmissions) I'm looking for it to test the levels below possibly with a rough open on Monday. Next levels I'm looking at are around 2725 and mid 2500s if we see further downside as anticipated.

2 Mar 2020

Not

Strong bounce today i'm still looking for 3065-3070 for the first resistance area, if it breaks through with enough momentum then areas around 3125 and 3215 will be my next areas of interest.