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Originally Posted by DoubleK
S&P 500 needs to hold this level or as Slava said earlier "look out below".
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Quote:
Originally Posted by OMG!WTF!
I'd expect this is the level that will hold up. I suspect the last 5% was Trump stupidity. But I'm not into calling bottoms.
It's really easy to day trade on big down days like this. Anything that goes up today is doing so for a reason.
It's freaky seeing MSNBC all split up in different make shift studios. This is what a disaster looks like I guess.
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Quote:
Originally Posted by OMG!WTF!
I don't like posting charts cause it's still considered voodoo. But it helps to see the big picture. This charts starts in 2009 at the bottom of the financial crisis 11 years ago. On Friday we were still above what would be considered normal for the last decade. Now we're right in the middle of the channel at 275. I suspect we'll fall to the bottom of the channel. We'll probably start seeing some better virus news and then continue to meander up the well established price channel. If we fall out of the channel, below 260 we're likely in for some prolonged suffering.
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2480 is a massive technical support level. Current S&P 500 futures are negative.
Stick a fork in it.