BIG ROUND NUMBER RESISTANCE

Yes, the 1.900 right now in SP500. That is absolutely normal after 5 days winning streak that Mr. Market takes a breath. The investors yesterday dumped the stocks slightly, all US indices turned firmly in red. But the bullish trend is still intact and far not over, might come some consolidation day, but we expect the rally to resume later this week or next Monday, Tuesday.

Yesterday performances:

• The Dow average is off 101 points, or 0.6%, at 16,614.
• The S&P 500 is down 0.5% at 1,888.
• The Nasdaq Composite is off 0.7% to 4,100.

Markets are taking a pause as normal, the Dow could floating around 16.500-16.700 area in the couple of following days. It will get back on bullish track again if it would take out the previous resistance level at 16.700 and will be able close above that previous high. Until that time we are going to have some „buy the dips” opportunities.

The BFM Assets Team.