By now the silly bulls are feeling the chill down their spine. Don't worry, we bears will eat ya for steak tomorrow.
Is today the 3rd leg? Don't these downward moves always happen in 3 legs? Always work for me when I traded currencies.
No need to read too much into today's price actions. ES is a very structured instrument in terms of price actions. One level of support/resistance is taken out, the next level comes in play. Some call it fractal, some call it other names. I couldn't care less Last week we have a test of previous week/month high and failed. We then go for the obvious - previous week close, then previous week low. Things can be pretty simple if you put it in proper perspective, but do not misuse the KISS principle
As vol mentioned op ex points to 850 or below. Tomorrow a pause should happen, but last month 50%, close, and low will be in play. Sell to Inauguration is still in play.
Very good advice, thank you. If the market makes lower low in dailies I will then take the loss and switch to sell the resistance mode. Couldn't be simpler.