Forecast for Wednesday

published 02.13 am

My forecast for Tuesday was very precise. The indexes in America began to fall with quite big force after the initial increases. S&P E-mini 1445 support level has been crossed. The next support is in the range of 1425-1430. Probably it will not be crossed and the markets will bounce. There could be some side way movements first. If there was to be „full blow correction”, declines in the S&P futures contracts could go down much lower to the last correction lows zone in the region of 1395-1400 points.

According to my estimates, on Wednesday S&P 500 futures contracts in a certain part of the session will  be going upwards. It is also possible the market will bounce from Tuesday’s one percent drop. In this case, the correction may be postponed for another day of the week. Holding FW20 shorts can bring significant profits provided that the correction in the U.S. will become stronger going down towards the 1400  level of the S&P E-mini. Otherwise one should look out for the placement of purchase orders as low as possible.

Probability 70%