MIB Forecast August 21, 2015, Technical Analysis

The MIB as you can see gapped lower at the open on Thursday, but then turned back around to fill that gap. We then fell significantly to have a very negative candle. However, there is a significant amount of support just below do to the fact that there was a large gap previously, so we are going to pay attention to the 22,300 level. If we get support there, we would be interested in buying, but if we break down below there the market should then accelerate to the downside and go much lower.