The stock market dropped on fear that "market could easily have a big drop" as commented by billionaire investor Carl Icahn yesterday
The stock market should rebound today if fear dissipates but stock futures dropped again
Asset management firm Grantham Mayo Van Otterloo (GMO) & Company said that S&P 500 is 75% overvalued
The OECD (Organisation for Economic Co-operation and Development) lowered its growth forecast of the global economy to 3.6% from 4%
S&P Futures rebounded earlier but failed to stay above 1790 & dropped to 1785, smaller resistance @ 1787
Today's focus will be on speeches which might either encourage or discourage investors to buy more stocks as investors sold stocks in fear & are waiting for more guidance
Trading risk increased due to uncertainty of what the speakers might say that will increase volatility
Trade less (or none) & cautiously today
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