Something interesting happened in the futures overnight. The ES tested a lower trend line from 2/23 and bounced off it sharply. If the S&P were to do that, it would have to go below 1365.
Given the buying pressure at that spot on the ES, and putting it together with what has been a pretty screwy decline thus far, I will be a buyer today of any weakness on the S&P below 1365 with 1360 as a stop. Below there it could extend considerably, and morph into a larger decline.
No other macro comments or observations other than I saw a bag of caffeinated popcorn for sale in a funky cafe/kiosk this weekend and didn't have my camera on me. I will have to go back there and take a photo. You didn't think I was actually going to buy the stuff, did you?
I admire your discipline--although i was watching the futures market in the night and caution that some interesting currency moves may be afoot! So far however, every dip has been a buy. k
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