Morning Ideas October 4, 2019

The market did a lot of what was expected yesterday, but we sunk a little further down than expected. This was news based, and can never be predicted.

However, the market quickly shrugged off the news and returned right back to the scene of the crime and ended up heading towards the resistance area at 2917ish.

Today I will watch the open intently to see if the sellers push back at this area. Longer term, I believe the market is setting up to head back towards the previous value, which is above us.