Tuesday market Forecast

With the uncertainties about China and how they will fully affect the US stock market, I expect the market to go sideways and chop a bit on Tuesday. If I had to tell you one way, up or down, I would say down, and here is why:

As you can see there is no single bottom tail on todays candle, and the body is very small with a tail on top and bottom, like a top. The very price nature of this candle is displaying uncertainty. It is a slight gap down from the candles before it due to China blowing off 8% of its market value the night before and this shows weakness.
I expect sideways chop tomorrow or even a drop as the market looks for a bottom and at China to figure out whats next. Its a good day to do down work/short work and not a good day to get in long.

Tradinginsider