Actually, I just stopped out my long here for a loss. Will consider re-entering long at a later point if this bottoms out. If not, we can trade all the way to yesterday's LOD from here.
Maybe. Small sample size, but my statistical model gives a mixed view for today at this point in time. Simplistically, one could possibly say that we had multiple attempts to move higher which failed. So, I'm not as bullish as I was this morning. I'm flat for now. May go long if we start moving above 4155, but not going to pick a bottom here. Actually, the week 50 % retracement is at 4142.50 where we just bounced. Maybe. EDIT: 4143 is also yesterday's mid-point in RTH. Maybe we can find a bottom here after all.
From what I can tell, I don't see today bouncing later today -- at least nothing significant. One thing I noticed last night was that breadth wasn't particularly strong yesterday despite the rally.
Probably not, though. Levels tend to matter j**k when someone starts selling. Seems like bigger players are calling BS on yesterday's pump.
https://www.cnbc.com/2023/02/07/stock-market-futures-open-to-close-news.html now you see, rate hike is an old story. Profit outlook is the new narrative.