
SO.... Overall I hate this action.. Maybe it's just emotional memory from the last moves down. But.....There is some hope that we dropped below that support line, and it seems like value was found below it.... But still this move needs a bounce that will Fail.
This feels like a retest and not just a correction.
Could be that this is just a sell the news and buy the rumor on the NFP.
but Next week is options expiration....
But to me.. this feels like a near term wall of worry. but the market action says "Be afraid"
feels like a re-test. All bears are out again, calling for 700 on SPX.
ReplyDeleteOpex is the week after (21st)