But the move down was ultra-low confidence -- and just too dang slow. If sellers take too much time to do their thing in this tape, then watch the hell out if short.
Low of the day is the 20 day and there you have the destination trade to chew upon.
The best trade of the day by my eye was to get short the 1st pullback after the break to new lows. When pullbacks reverse right at the breakdown zone, then it's game on for test of new lows -- especially with small caps leading the charge and intra-market themes largely in line.
2nd trade of the day candidate was the double minor low print to get long right at the daily 20 day. Nothing short of program moonshine!
We think upside tomorrow, unless the downside fake-outs continue, or the market has completely changed!
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