Kudos to MMs

"NFV" went out at 1083.46. That is big long edge still, but if you took these signals and held you are getting killed. If you took the signals and tried to get three handles, you made out. But imo that is wrong, especially on a swing system.

There is a great deal of fear in this market, and fear always trumps logic when human beings are involved.

 

"NFV" 1084.65. SPX 1049.35.

SPX hit close to 1042 and of course we all bought there and made eight handles, right?

 

"NFV" 1093.72.

 

"NFV" 1087.11. SPX 1064.44.

 

"NFV" 1094.75. SPX 1075.30.

 

Convergence is happening fast. Still edge long:

"NFV" 1094.78. SPX 1081.21.

 

....trend line

 

"NFV" ~1098. Long edge still.

 

One obvious resistance level is 1105.

 

Near 100% convergence: "NFV" 1094.93. SPX 1091.60.

No edge.