1st support is at 3278-81 which is my TP 2nd support is at 3262 which is ... IDK 3rd support is at 3235 which is a good bye.
On the Jun ladder, it actually printed up into the 9781-ish area on Wed night. I thought, "How bad can we pull back from here?" I was thinking of getting out when it started festering at the 77ishlevel, but decided to hold on. I mean, really..
Man the farther China drops..... the greater the generational opportunity to just buy and hold that place. Corona WILL pass and China will press on. This is like '08 in the States, just a different boogeyman.
F the ES.... think globally son. Specifically China. It's not going away, trust me. Keep buying as a bottom is hard to call at this point. The more it drops, the more you should buy. Use a Buffet time-frame. Looking ahead that is.
True, but we are still close to the top so be prudent... start buying when prices get close to the 200-day average, that's still 200 pts away from here. China is not the only (temporary) factor here, after the virus will be the effects of the virus in earning reporting and after that is the election uncertainty. These are just the knowns.... My first ES buy is at 3,180, currently, I'm net short
Put 35% of your net worth in a China pure play. If it drops another 10%, put in another 25%. Put the last 40 in on a 15% drop from there. Then go on vacation and never trade again for 15 years.