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2020 gains …. puff and gone, just like that

Under Pressure

Resistance

13230/13080

Target

12650 / 12460

Support

12820 / 12630

Point to watch

2020 is gone

Long time awaited correction is on way, slightly nast catalyst to trigger sell off but what we can do. Market always find way to get job done.

With 13k mark and price at friday close dipped under previous support we have door open to lower levels. 

Price will need some time to find foothold and right now is good to watch levels and supports under 12.7. 

China market reasuming trading this Monday and ven with direct involvement of People’s Bank of China still pressure can be high. 

For rest of world that means we are not quite done yet with sell off. 

Good luck and trade safe, bit of defensive approach highly recommended. 

Chart from last week.

I wish my execution follows trading plan, too many mistakes on way, 1st hedged too high and waited too long for gap close, only SP500 managed to pull back and close gap before next leg. Lets see what can salvage from that.