Morning Traders,
Big news overnight was the Facebook (Meta) news. FB is down 25 percent in the overnight session, which will likely have some effect on the overall index because of its size.
Otherwise, the market has run into the volume above us and is pulling back now. This doesn't mean that a reversal has happened and we are going to plunge, it's just a very common occurrence when the market runs back into a heavily traded area.
I'd look for the market to try and take back 4600 but you need to keep an eye on FB volatility today.
Big news overnight was the Facebook (Meta) news. FB is down 25 percent in the overnight session, which will likely have some effect on the overall index because of its size.
Otherwise, the market has run into the volume above us and is pulling back now. This doesn't mean that a reversal has happened and we are going to plunge, it's just a very common occurrence when the market runs back into a heavily traded area.
I'd look for the market to try and take back 4600 but you need to keep an eye on FB volatility today.
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