Much like in a bull-market sharp declines tend to throw off many traders from participating in a rally, so to it is in a bear market. Sharp rallies tend to bring in more traders into the long side & shake out bearish traders only for the market to move lower like this AM.
Support & Resistance Levels for multiple time-frames on the Dec contract on the annotated charts below. (Click on graphs to enlarge. May need to click a few times to get to full size)
S&P Globex Dec Futures
