The immediate critical downside KRAs are highlighted on the charts below. The equity markets (actually most markets of financial nature) are on edge and will remain so for most of this week because of the heavy news backdrop that includes the FOMC statement on Wednesday and the non-farm payroll report on Friday, not to mention a lot of news/announcements out of Europe.
Monday was surprisingly “tame” in terms of volatility but with the US indices trading at or just below important recent highs accompanied by the news backdrop I don’t see how that will be the norm for the remainder of the week.
A close above recent highs, especially if the Russell 2000/TF begins to show strength must be respected. Closes below levels highlighted by all four indices is a bearish signal.
