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Weak Close on Friday Expect Additional Tests of Support

Daily Continuous

Daily Continuous

Major Support: $2.913, $2.82, $2.641,$2.627, $2.546, $2.52, $2.495, $2443,

Minor Support: $2.891, $2.852, $2.727, $2.59

Major Resistance: $2.966, $3.046, $3.105, $$3.12-$3.13

Minor Resistance: $2.994

The close below the 200 day has to be respected, therefore expect additional weakness when we open as mentioned in the Daily last Friday.  That is in fact what happened last night.  The market has opened on Sunday night either in a gap up or last night just a significant decline.  Last week’s gap open higher spent the rest of the day declining to close the gap.  Last nights open may be suggesting additional tests of last weeks lows down to $2.85.  This week will find a rare March triple digit withdrawal which may limit the declines.

Past Daily Calls