Just a quick visual. This morning’s hysterics are going to bring the indexes to the daily support levels we have noted. Here is the multi-index chart marked up with the projected open.
SPX is projected to open just above channel and lateral support. NDX is at channel support, with firmer support 100 points lower. Dow is near the channel bottom. If lateral support is broken then we get a bigger bear signal than the channel trading range indexes have been in. But for now, support is notable. FWIW, I am going to at least consider covering my NDX (TQQQ) short soon.
