daytrading oct 12 morning

Good morning traders

Thanks Highlandlad.

Along the theme of yesterday an update on the S & P 500 code SPX.

The bulls grabbed control early but were slowly worn down as the day progressed with the index closing near where it started.
Horizontal support has held for now but still not negated the three black crows pattern (bearish). A decisive break either way should be forthcoming as the market shows its hand. I have a slightly bearish stance.

Our local market has shown its resilience over the last few days and inspite of some headwinds , has held up quite well, though volume has not been that great.

Check your open orders and good luck.