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Watch These Important Index Support Levels Monday s close will be extremely important.
Dec 21, 2020 | 11:15 AM EST
Nearly all the major equity indices remain in near-term uptrends. However, the market s weakness on Monday may change all that.
Monday s close will be extremely important regarding whether or not the charts will be able to withstand the early selloff and hold their respective support levels.
Closes below support would darken our outlook as the psychology data and valuation have been suggesting a fairly high level of risk has existed in the markets for the past several sessions. This appears to be some of that risk coming to fruition.