Syria Strikes effects on market erased before open
Syria strikes effects on market are erased before the market opens.
Looking at the overnight price action on the S&P500 emini futures after the US air strike on Syria. It seems the markets have absorbed the shock and it is business as usual.
2335 is major support, and the US strike only effected the overnight market by 9 points. Not that big an effect. The consolidated range from 2335 to 2360 is building pressure and we are looking for a breakout.
There is a descending short term bearish trendline from the swing high and a break above this will be a signal for either an extension of this move to new highs or a failure and turn to break the supporting 50MA.
Intra-day trading has been choppy and creating many short term possibilities.
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Source: http://www.moneymakeredge.com/blog/syria-strikes-effects-market-erased-open/
