...if the bounce does not come tonight and it goes down further, the market will be in trouble.
...it is not just American market participants getting caught in this drawdown, European and Asian market participants have been heavily into US tech stocks are now in frenzied moment, with MARGIN CALLS likely to kick in if the drawdown continues unabated.
S&P 500 now testing its 1-year (252 day) moving average with RSI pushing under 30. Similar to October '23 but also similar to Jan. '23. Both saw bounces but Jan.'s was short-lived. https://x.com/AndrewThrasher/status/1899163654446358639
