C'mon man, you know I was only messing with ya. You're one of the only few here that I actually listen to.
Damn, this selloff ain't letting up. At this rate, your accidental mix up (ES 5578) just might turn out to be true.
$SPX has a gap open down below, or rather what Tom DeMark refers to as a Lap - which is really one and the same. Friday March 14th gapped up from Thursday's close, but Thursdays open and high were above Friday's open leaving behind no open area. But it did gap up and it will be most definitely get filled, prolly very soon.
Days like today, everyone tries to catch the bounce up. We get a little flatline, then a little green candle, maybe 4 or 5 on a one minute chart, folks jump in trying for the reversal, and bam, it drops below the prior flatline. But at the same time, no one wants to go short because it's already down so much. In essence, the whole day is geared to take money from the longs that buy in on each step down the ladder. As always, some days are just better sitting on your hands. And if you play stocks, maybe hunt around for bargains. Tough to pull the trigger though if we are heading for a recession. If there is a reversal though, it will be swift and big.
In this volatility even a 25 point rally won't break the down trend. It may have been enough for one day, though, but I'm not so sure we'll see much of a relief rally today. It can easily continue lower into the Close.