It looks like we're just getting started with a big, hairy C wave down to the depths -- how low will it go? Once we test and lose the 200 DMA, it ought to accelerate and get very frightening in the short-term.
SPX RTH 1-hour
So let's go visit the 200 DMA, like, tomorrow.
Big picture, first job is to cross the megaphone at breakneck speed. Volatility looks completely confused at this point as OTM calls are rolling off and I'm not sure if anyone is hedging, because "correction".
Good luck with that.
|SPX 1-hour Sturm und Drang|