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It is what it is department" SPX -8.8% CPC = 1.26 panic level, it's ugly out there that's for sure. but look at where we came from, it's not all that bad. Look at past S/R lines it will tell me what to expected as a short term trader.
Look at Fib extension it is well beyond 1.618% very bearish. or throw in some E-wave we have a crystal ball number laying out some where.
for /ES lots of calls to 4345-58. Short term trade there is no end in sight. Friday's price action continue to print negative. By Monday if we can not trade above 61.8% there will be no reversal in my view.
for some of us who use higher degree of time frame, Hourly EIS bar will be a good start, look for color to change from red to Bue or Green.
Money management/ Position sizing is more important than any of this. keep it simple. Peace!
My comments are for entertainment/educational purpose only. NOT a trade advice.