sp'daily5
Summary
For those who haven't had their heads ripped off across the past few days (I'd imagine some retail amateurs who trade futures will be losing their homes this month)... I hope you are enjoying the entertainment.
As it is, this is still merely an initial wave lower... and price action does reflect that...its still not anything that dramatic.. and hell, the VIX is still below the basic 20 threshold.
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Overall... today was a great reversal of the insanely stupid Wednesday gains.
From a pure trading perspective.. the simple trades would appear to be..
Long 1910/00 zone
...bounce to 1970/90 zone... if market gets stuck.... re-short... with stop 1990/2000.
Regardless........... enjoy the closing hour.
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3.30pm... Micro up wave.. but it is of no relevance... a day for the bears.
Notable weakness, coal miners, BTU -8.7%... but more on that one after the close.
3.40pm.. A daily close <1935 would be kinda important... along with VIX.. at least in the 18s.
Anyway... just who would be going long right now, at least before 1904 is tested?