60min chart of S&P e-mini futures /ES
I thought the market would hold that 1445 support today. It was a pretty good setup for the bulls, but they apparently ran out of ammo.
Good news:
1) There will be buyers down at 1430, especially if it opens near there.
2) It’s end of quarter. Some markup is likely to be attempted.
3) Tomorrow is Yom Kippur (sell Rosh Hashanah, buy Yom Kippur)
Bad news:
1430 would be a 100% retrace of the prior rally. That’s generally not good. Next support around 1420, then the gap at 1400.
Stay away from falling knives until the market finds its feet.