Probably going for a test of 90. Let's see if that one holds or not. Mainly looking for a long entry here.
Fighting the trend here, but 90 is an important level and I'm betting it will hold. Obviously. If it doesn't - I suppose we can see a decent slide below 90. But I know nothing.
Out at 3196.25 for a gain of 381.25 pts . I have rolled into Sep Long at 3185.75. Initial stop 3005.00
Any takers for the rest of the day? It seems like that 90 level was overshot a bit, but defended in the end. FWIW - I re-entered shortly after getting stopped. I will probably just hold it at break-even and swing for the fences on this one. Might test 90 one more time now.
Looking for a little more downside on my end but not much. If that floor holds on a retest and l don't like what I'm seeing in the PA I'll probably pull the plug.
So far, this entire last hour or so may simply be one large bear flag before the next push lower. I'm betting on the long side, but am not comfortable yet. I wonder if this is one of those days we've seen recently where the market may show some apparent weakness early on which turns out to only be a retracement on a larger leg up. Probably waiting for the FED now.