MIB Forecast October 14, 2014, Technical Analysis
The MIB as you can see had a back-and-forth session during the day on Monday, but ended up forming a fairly bearish looking shooting star that sits right on the 19,000 handle. Because of this, we feel that the market could very easily fall from here, and a break of the 18,900 level would have us selling this market as it would be a confirmed breakdown. On the other hand, if we broke back above the 19,500 level, we might be willing to go along with a small position at that point in time.
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