Just to mention that we have NFP this Friday and CPI on Monday. If markets turn south, then I’d have thought there would be a delay until Monday or Friday at least. Markets tend to run up toward NFP (Apex82, circa 2010).
It wouldnt surprise me in the least if we ran to new highs from here. Still expecting at least one more push down - but as things stand the winds are shifting. Bad news is starting to get ignored among other things.
My guess is we're gonna flatten out for awhile, the vix will slowly drop, and we're gonna get into that chop that's so difficult to trade.
Lost momentum at the highs and quickly filled that pocket below. If we don't reverse here, ~ 15-20, we'll probably roll over on the day, IMO. 4100 or lower.
Tight stops getting runned left and right. As long as this zone holds - we still have a good chance at new weekly highs today, IMHO.
Well, what would this market be if there wasn't a "next big event" to fret and sensationalize over? Maybe Mitch McConnell will go to Taiwan next month.