Markets dip drop as expected and especially small caps, QQQQ ans NASDAQ got a nice drop. The SPX and Dow jones did not drop as much , but sits right now above big trendline support.
The russels also sits right aboe the major trendline support from september lows - and I see us breakdown from this near term ( over next days ). When we breakdown from here we should see heavy selling come into markets and a nice flush down in markets. The USD did bounce excatly from target 76.3 until now and did close green yesterday, so a possible bottom in the USD might be in - lets see today if we get another green close in the USD, but watch for the 76.3 still.
The short term trend is still down and no need to fight the trend - markets needs to close at least above 1320 to get bullish again - and for a good confirmation needs to break 1330-1333 resistance. Until then the markets will trend down and continue down - watch for the BIG FAT trendline from September lows , cause if we break down today or next days - its going to be really ugly....
My target is still below 1200 by end of March - so lets see how the next days/weeks plays out - many risks for markets ahead.
Have a nice day
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