Reminder and today’s configuration
On the June 9th, we were writing:
“[…]our preferred scenario is related with the existence of some supports close to present levels (within a few %). Already, 12200 pts is a reasonable resistance level on the Dow Jones… but it can decline a few % lower with no drama towards 12000 pts…”
The stock market has effectively tested some lows in the session of Wednesday June 10th with downside leadership coming from the financial and technology sectors (see table below).
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Next: As mentioned above, the lows that we were expecting are under construction and within a few days and a few %, we should approach a support area! Then, keeping this timing scenario, we are expecting a (violent?) technical rebound at some levels…
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