Monday, January 4, 2016

1st trading day of the year 2016

First trading session of the year and the market was down more then 400 points at one point before recovering. According to the news channels china's market was do down 7% before trading was halted for the day, I wonder what will happen when the chines market resume trading tomorrow, if the selling continues how will it impact the US and other world markets? SPY took a breather around the 200 support area with a huge gap down if this support does not hold we could see Oct 2015 lows and who knows beyond. From what I know the market can recover all its losses tomorrow and never look back!!

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