I wonder if 3900 will hold. Probably gonna run it a bit lower. And if that doesn't hold - free falling...? I'm a late short here (3907). 10 point stop. Holding for sub 3900. Done for the day if stopped.
Average RTH range and % change on the day say this can go a lot lower still. I don't see why we can't see say 3870 - assuming this breaks.
What is your target? Assuming you have a target. I am in another long swing trade, bottom fishing, smallish stops. My target is 4,050 SPX.
The post you quoted said 3870, but my confidence level is low... The only thing which seemed certain to me this week was 3923 and we tagged that already. Trend is down, though...
No surprise to see that 3900 level defended. But is it the LOD for today. I wonder... I stopped out B/E on that trade and am sidelined and just watching ATM. Don't think I want to enter long just yet either.
So far we surpassed it by 0.5%, which isn't significant and for some big players this could be a good place to do some collusion to initiate at least a short squeeze.
Agreed. Personally, I think we're headed lower eventually, but the market does move in waves and we're a bit overextended at the moment.