The LOD broke and then some. Let's see if this bottoms out in this area (4145) or if it sells off. If it sells of it will probably be without me. So far repeating the pattern from last month. Big run up pre-market and a sell in RTH. Quoted for truth. It's so easy to believe otherwise when the market is pumping.
It's amazing how consistently both rallies and drops keep failing in this range bound market. A lot of volume coming into the market on this drop. If we repeat last month's pattern today's an Outside Day, i.e., < 4131. I'd be impressed if this reverses and makes a new HOD today. Appears very unlikely by now.
Up or down? I'm still trying to pick a bottom here. 1 x 3 point loss and 2 B/Es so far which was considerably in the money at some point. You get the feeling that NQ is the only thing holding up the market here, though.
That can be dangerous... My last attempt at picking a bottom here. Lots of air if the current LOD doesn't hold. This could easily rip from here, but generally, today is very, very unlikely to reverse back up from here. Then again, a lot of volume coming into this market and it could get to be one of those weird days.