Obviously the right tactic yesterday was to stick with the downside which felt hard to do. My morning take was incorrect. However, there is now a nice bull/bear line at 2046.60.
Above that could open up a bunch of wild scenarios leading to some wild swings. It would not mean that the correction was over. But it could mean a larger pattern was in play.
As traders, large patterns can mean large paydays.
For perspective, the dip did not even reach a 23.6% Fibonacci retracement of the rally since Oct. 15th. The 38% level is 1980.60.
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