Maybe? And the many other previous "support" levels all of which got broken... But this time you mean it for real...
Depending upon your timeframe...most of the Support lines are now Resistant Lines because the price action is below them. wrbtraderr
Doesn't matter what they are. This market is doomed without some sort of intervention. And these stupid Nasdaq rallies are just a waste of time. I guess its just scalpers trading back & forth. Sooner or later there is going to have to be a Plaza Accord type solution like in 1985 when we last saw these crazy currency moves. Or the global Central Bankers decide to stop the rate hikes. Without these solutions there will be another financial dislocation aka indiscriminate liquidations.
Damn Skippy! +1 Even on this luge ride to establish its realistic value the ES had a rally this morning on intraday fast charts. https://www.elitetrader.com/et/thre...t-right-here-baby.343012/page-33#post-5683904
Markets are down 24% from all time highs...what's with the panic? The selloff has been very orderly so far...