Major U.S. market indices plunged this morning, rebounded, and is now falling to low of this morning. Possible full-scale invasion of Ukraine by Russia and the United States warned this could lead to the economic isolation of Russia caused global stock markets sharply lower. Ukraine incident is the most serious confrontation between western countries and Russia since the 1947-1991 Cold War period . Investors worried if losing trades with Russia, the German economy will be negatively affected, which in turn will dragged down the European economy. In addition, Europe is also very dependent on Russian suppy of natural gas. Technically, S & P 500's falling back below the 1850 level today causes it to form bearish multiple top formation . Although today's economic data released in the United States were better than expected, but the U.S. stock market will remain under pressure before the situation in Ukraine is resolved . S & P 500 support is 1822 and resistance is 1850.
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