SP500 (a 4-hour chart)
Concerns that the Fed will hike rates broke out with renewed vigor. Data on industrial production and the construction of US homes were positive, though accepted by the market negatively. American markets shifted to correction. The news of a possible rate hike in the US in the near future can dramatically change the market sentiment and lead to a weakening of risk assets demand and strengthening of the American currency.
Today, mini SP 500 futures continue to show a negative trend, testing the key support level of 2167-2170 points. Market sentiment is negative.
The market is testing the important support level of 2170 points. The passage of this level will trigger a further longs sale -off dropping the market to 2160 and beyond 2150 points.