Excluding 2020 - we never had a down day of 5 % or more on ES during the entire bear market of 2022. In fact - the largest low print (not closing price) was 4.65 %. Maybe this is more dramatic than the 2022 bear market? Nice fade.
It's got to bounce some indeed. However, imho, EUR and JPY say this is going to keep going down over the next few days. (Again, last night we had a 85 point bounce, so there's plenty to make on the long side I guess) Edit: but I would prefer to short higher, if we get there
Best to buckle up and scalp on a fast chart, I think. With 30 point 5-minute ranges and a lot of overlap it's difficult to trade that with any precision....