Eurostoxx did hold the 2469/2470 level once again and with the market now over bought in the short term and the 9 day crossing the 21 day MA, prices should continue lower today.

Below 2456 we see initial support at 2446/45 before 2433. Below here look for 2419 then 2400/96. If we break lower, our first major target for this sell off is at 2386/84. Watch for the bounce, but any longs here need stops below 2375 for 2354. Failure here sees 2342/40 on the way to 2316/11 which is our measured target for this H&S pattern.

However above 2473 sees 2480 then a retest of 2490/94 highs.

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