The current range on the S&P is massive: 1230-1114. Unfortunately, as of this morning, and based on yesterday's action, it's a toss up. We're in the middle.
So far it didn't get high enough, nor did it get low enough yesterday, to tip its hand. Last night's action in the futures was very sloppy compared to the rather impulsive move down. Based on this alone I would expect lower prices.
But the fact that the down draft did not (as yet) retrace back to even the 38% level surrounding the 1162 area keep the door open to higher prices.
Stay nimble here. Volatility and political risk are in the market. Wild swings are possible. Play the extremes. Let the market come to you.
this played out well today with just a few ticks under.. 1158.75 should hold the day, imo..
ReplyDeletenope. it did not, just to follow up.
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