Yes I will tell them @golden6. Unacceptable behavior to frighten people when they are still trying to wake up. Really liked your post on the perils of day trading by the way. You ain't wrong.
So far this week we are running all the way to the bottom of that SPX 4100-4250 bracket for May expirations, and that lower bound is something the bulls would like to maintain. This is partly because under 4100, there is poor ES structure all the way to 4000. The smaller, narrow bracket from last week (4170 to 4190) might not be considered relevant to the hardline profile theorists, but I am still watching that area as a reference. More important at present is SPX 4150/ES 4140 (around Tuesday's US close) because it serves as sort of a buffer between the ultimate line in the sand at 4100, which you might stretch down to 4080 for a low volume exploration. But heavily negative internals below 4100 would not be a good thing this week or if it happened before next Friday week and the monthly derivatives changeover. The SPX 4100 hedge is still dense and 4150 is an area where bulls and bears will fight if we stay below SPX 4175, which is now resistance.
Traders will continue to be cautious if all four indices stay weak together, as much of the runup to current levels was the product of rotation between sectors. Value/cyclical plays have been taking up slack in the relay race to the top and if we need that as NDX is below its 50-day moving average. I assume traders are ready to bounce around a bit today, and Implied volatility measures will again be watched closely.
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