Close below 273 is bearish as it is close to the 20% off the Feb peak => bear market boundary. A head fake is not off the table.
One thing is clear, if market does not get a continuous feed of fresh dole from the govt, we are heading south. The larger the dole, longer the pump. I am buying calls at 271 (we haven't touched it but will soon). There should be a deal soon and that will send the market to the other extreme - 295 of the range.
One thing is clear, if market does not get a continuous feed of fresh dole from the govt, we are heading south. The larger the dole, longer the pump. I am buying calls at 271 (we haven't touched it but will soon). There should be a deal soon and that will send the market to the other extreme - 295 of the range.