Democracy protests intensifying in Hong Kong. Independence referendum in Catalonia, Spain. I hear these things and think GOOD.
Yet we're told these things are bad. That they're the reason for the overnight rout in futures.
Go back to Friday and you'll see a weak, low volume rally. Even "more" low volume than the massive decline the day before.
Turn off the news. Listen to the market.
Friday's S&P rally got a mere 3 ticks above an exact 38% retracement of the entire Alibaba decline. The 1:1 Fib target remains at 1959.16.
If no follow through, I'll be buying calls. But lower targets are possible too.