I was short this morning. Sadly after the initial drop as I was at work, but captured a piece. My favorite LIS is the 50 % of the current RTH range. Basically, short below. Long above. As can be seen, the initial test of the 50 % level today was a good scalp. I missed that one, but took a second short as the market thrusted back up towards 65 or so. Closed it quickly for a loss and reversed long. By then, you could pick up that there was quite a bit of upside momentum and I suspected we might just pop through. Once the 50 pops, there's usually some upside movement on a day like this. If you divide the range in 4 quarters, the upper half is a good target. I'm done trading today, but the 65 level could be a good buy if we get there. OTOH, in this kind of volatility it's perfectly possible that this could loose that 65 level and sell off again.
Aloha @Laissez Faire , Do you use constant volume bars? I haven't seen you post a chart of them before
Valiant effort by the bulls today. Closed right at the 100 day. Will be very surprised if this move down doesn't result in a 200 day tag before it's over.
rty is worth a look, maybe sell some eom 2000 puts lol, amd is back to 2022 level, techs are deflating.
I have a buy stop a tick above yesterday's high, the order is 6016.25 for a multi-session swing trade. "Don't fire 'til you see the whites of their eyes" trade for me. That's an American Revolution reference for the historically challenged Americans among us (you don't know who you are).