Another forgettable day?Yes SYA lost 4 pips to finish at 8.4c....

Another forgettable day?

Yes SYA lost 4 pips to finish at 8.4c. Our volume was very high - just over 173m shares traded. Yesterday I had written that it is not looking good. The general markets, the Li sentiment - all working against us. Made a new 52 week low of 8.3. not sure what's going to happen, what number the big traders have in mind - we can only hope that it reverses soon, those with coins may think of a good buying opportunity, I will wait first for reversal
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ASX Li stocks were slightly weak. Of the 75 stocks that I track, average loss was around 1.5%
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Overnight US Li stocks were also weak along with indices - average loss just under 2%.
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What next:
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SP 500 had one o its worst days of last 6 months, losing around 1.5%. ASX though was not having that, just like yesterday playing opposite, lost just 0.1% - may be expecting a rebounce tonight?
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So SP 500 has broken another key level of 4300. I had 4 numbers - 4330/4300/4250/4200. SP 500 is now on 4273. So its going in the direction which many were expecting and I have been writing for sometime. Also fits in with seasonality where last 10 days of September are worst days of stock market in a year..
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Analysts are again mixed at this stage with some thinking a short-term bounce may happen because its very oversold. But most agree that charts are not looking good. A head and shoulder pattern has played out in SP 500, Nasdaq and many individual stocks as well. Its supposed to be bearish. They say it may fall the same level down from neckline as it is to head from neck. If it plays out that way, number is 4070 on SP 500. Stocks don't have to follow charts, but something to keep an eye on.
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Lead indicators were bad. VIX 12% increase, Yields made another big gain, Dollar index too increased. Bitcoin stable.
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So what will happen tonight? US Futures in some green. Asian markets were largely green though not much. Yesterday both were red, and we got red. Today both are green - so will we get a green?. Lets hope so. All the best..