I wasn't one of those who bought that dip on Monday evening. I was just getting out of a tree canopy at the time and even if I'd been watching the screen I don’t think I would have had the guts or presence of mind that night because there wasn't much time to consider what had just happened. It's one thing to capitalize on a fast break but another to try and read the minds of an administration that has a bit of market margin to waste on a political move and is growing desperate as they watch their polling numbers deteriorate. I'm in caution mode and intrady mode below the 20 day moving average and the big gap resistance above - in a highly uncertain climate with the obvious politicization of the virus initiatives and statistics and a Fed that may have a hard time compensating if anything else were to happen. Even though we are clearly range trading in the summertime doldrums right now, this market causes some nervousness and does not inspire confidence…as @ammie says
