Brace yourself: US major indices are expected to open sharply lower ...Middle East

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The futures are implying a lower opening across the board. European shares are also lower. The current futures are targeting:

Dow industrial average -289 pointsS&P index -55 pointsNASDAQ index -265 points

Dow industrial average -715.80.0 -1.69%S&P index -112.37 points or -1.97%NASDAQ index -481.04 points or -2.70%

For the trading week, the major indices all fell:

Dow industrial average -0.96%S&P index -1.53%NASDAQ index -2.59%

On the upside, resistance now forms around the aforementioned swing area and the 5600 level

The break of support combined with the rejection from key moving averages keeps sellers in control for now.

This article was written by Greg Michalowski at www.forexlive.com.

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