My forecast of 4400-4500 has arrived but 4350 is next support to be tested and if that does not hold, the S&P500 will get into correction territory which is circa 4320. The S&P500 suffered a 2.6% intraday loss from 4600 early in the morning with losses in the final hours of trade (programme selling !) https://www.tradingview.com/symbols/SPX/
Below that point, market psychology will dictate the next direction. Will we see the herd running for the exits or can we see big funds coming in to scoop lower prices and bring some order back? Both could happen but Putin could throw the spanner in the works with possible Russian intrusion into Ukraine.
After yesterday's complacency, the local market in trying to be anticipatory again will likely see a selloff .
