Downside Risk
As long as S&Ps are below 791, the risk continues on the downside. Below this, the next downside targets are 788.50, then 786.50-786 and 785-784.50.
On the upside, S&Ps will have to show good bounce around the 788.50 area and get back over 791 to avoid another selloff. If that happens they should test 793-794 and later 795.50-796.
As stated in the Morning Meeting, the market remains under pressure and is very “emotional” due to news and rumors surrounding the geopolitical events.
As long as the Nasdaq is below 950, there is still a risk of extending the selloff, with targets at 945.50-945-944 and then 941.50-940. On the upside, to improve the outlook they will have to get above 954, then go below 951 again. If that happens to for 956, 958, and later 960.