SP500 is in downward move in these days: Friday has broken on daily charts a level previously signaled at 4,440; now in pre-market trading futures signal a price on cash of 4,380.
On weekly charts the support is 4,390, so if today the market will close below this level, we will reach these 2 levels on downside:
4,290
4,196
Our trading system is SHORT on daily chart and FLAT on weekly charts.
We have to monitor closely the VIX Index: if VIX Index will break on upside the level of 26,30, there are chances of getting as high as 32-33: in this case it will be very likely that the market will accelerate towards the 2nd level signaled above.