More than 100% measured move down so probably it has another leg down after the rebound which might be now as I see volume surge and biggest red bar.
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for dips buyer lets imagine that today we have a positive price action, and tomorrow gap up to create Island reversal, will that be a nice day tomorrow instead of upsetting and damning the power that be.
***Holding overnight if you are not well in the money is a dead wish.***
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ES 03-22 (12850 Tick) 2022_01_24 (11_02_07 AM).png
Captain obvious here. Pretty sure that ledge at todays VPOC needs to be cleared to confirm the low is in.
/ES volume is 1.8+million contracts traded today atm. well, this should be high enough any more than this people who sell got nothing left to sell any more besides the kitchen sinks.
My comments are for entertainment/educational purpose only. NOT a trade advice.
When the bounce starts options market makers will be dumping short hedge positions, equal risk funds will stop selling and Goldman's cooperate buy back desk is now fully functional with 5 billion a day to distribute. Just saying.
It's the very first touch of EMA20 in 2+ hours usually attract some sellers as they can finally sell a higher price so watch for EMA short setup.
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