S&P 500 dropped for the 5th day in a row, the longest losing streak this year
S&P Futures shows that stocks are trying to rebound today but there are still reasons to be cautious
There are still concerns about America's economic recovery, QE tapering, too much debt & risk of government shutdown
Trading will be riskier until these problems are solved
There might also be sudden high impact news that can change the whole market
Market Psychology:
Not many people will be willing to buy more stocks because of those problems
But since stocks are oversold for the 5th day, bargain hunters can be willing to buy stocks at a low price & push stocks up while others hold their stocks, not sure whether to buy or sell because of uncertainties
Conclusion: It's possible for stocks to rebound & go higher but there will be strong resistances
If it fails to break & stay above resistances for a long time, it should drop more like it did yesterday
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