Doesn't expect every bit though options traders are pricing inward a stock marketplace implosion: every bit we've made fresh lows inward the major stock indexes, we've seen declining highs inward VIX.
Meanwhile, at .69 too .67, the CBOE put/call ratios for the by 2 sessions bring been higher upwardly average, exactly non at highly bearish extremes.
New 20-day lows give-up the ghost on to hover inward the 2000 area, which says that bounces are non lifting many boats.
If nosotros cannot punish the shorts before long amongst a rally that bursts the of import resistance inward the depression 1100 expanse of ES, I'd expect for a washout below today's overnight lows. I by too large similar the bull side too discovery it historically profitable to fade weakness. My memories of 2008 bring non altogether faded, however, too I retrieve when bullish setups based on marketplace weakness failed, 1 later on another.
Hence the caution amidst signs that we're non seeing panic.
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