Zeev, don't you think that this delay in fact adds to the uncertainty and will make people who might have been already long thinking that the war will start on 3/3 to get out? I also see corporate spending being stalled due to this delay in the month of march. That means that the first quarter warning will start pouring in pretty soon.
Well last week i had drawn my line in the sand at 818 spx. Support at 825 needs to hold or thats where we go and then lower. NDX is in a lot better shape but is set to open at near the critical 982-985 range. Asia and europe got creamed.
The bullish scenario is dead for all practical purposes when the above levels are taken out. A gap down and snap back then rally are possible, but i dont expect it in light of the carnage in europe.
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