As foretold... Just watching for the next tell, now. Momentum on the daily chart is clearly down, but could be some gap fill buyers lurking down here as SPX fills the gap around 4299. I think we'll get a leg down from here, but will reverse long if we trade back above the Open or so.
Gap filled on SPX and gap fill buyers showed up. Tricky spot to engage, IMO, as we could easily reverse from here or it could get continuation for a dirty day down. I got stopped out from a short position on this reaction. Waiting for some more clarity now. Possibly the long side if we get back inside yesterday's range.
Was about to reverse long, but went short again and just stopped out on a trailing stop on the last spike up. If SPX fills the next gap below there should be about 60 points left to the downside if it happens today. Not a prediction as the data I'm looking at doesn't work that way. As far as I'm concerned, my statistical data is exploited for today. I'd be slightly surprised if we trade back above the Open today, though. Could be a tricky day to navigate as I'm sure there's many bottom pickers on the way down.
Nice kiss back to NL on Friday @ 97.... I see no reason to close Long Puts or Net Shorts here other than to lock in profit! ........ Heavy!