I'm not sure what to make of it (is Benny/PPT meddling?), although I've seen this kind of nonsense so many hundreds of times, some traders have already noted it could merely be an overnight back test of the 1350/55 gap.
Lets keep the bigger picture in mind both for today, and across this trading week
Sp'daily
First soft resistance is the lower bollinger of 1355, which is also right near the precious 1357 low.
So, I'm looking for a low around 1360/55 in the opening 30mins, maybe as late as 11am.
As things stand, I am looking for a standard 0.75/1.0% intra-day bounce...so we might even go green today. Whether we close green, that's too hard to even vaguely guess.
There are many out there calling for a multi-day bounce, but if we're only at 1360...even a 2% bounce would get us back to 1390..which is back to the previous support area. I don't believe we'll see above 1390s for some considerable time.
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*I'm looking to exit some option puts early in the morning, and will certainly look to re-short later in the day, probably no later than 2pm.
As usual...updates across the day.