If they hold 53.00 , today is a major zoom to the moon day and will ride it to 926. But theres a long in there somewhere under 57, only when the lions appear. If they take out 53 prior to open and open it above 53 long still in play. Lions are crafty creatures.
Great call on the drop from above 70. And damn they finish the job last night again ... About the 53 level, NQ must cooperate for the bottom to be made. Edit: My view was posted here since the 940 area was touched - must keep dropping til Inauguration. First level to stop it should be Dec low around 820s.
47 to get them in, and then the lions feast again. History tells us that the change of direction in the low or high for the week most often happens on wed of oe. Watch for the put interest swelling to see what the lions have in mind.
Put interest may not be swelling within a day, thus a push to below 50% of the run up must be done before op ex. Using SPX, 50% from last year low at 741 to swing high around 944 is 842.
You might be surprised on what happens on large gap downs in put interest. The tanks are orchestrated to sell premium as well as the spikes up for calls.