Here’s the closing chart of today, with S&P500 futures down more than 100 points down! We were fortunate to have avoided this large fall today. We will be looking for a suitable buying opportunity once market stabilizes.

Traders should be careful with #SP500 below 2880 (as mentioned in previous posts). The large correction of today started below 2880. The uptrend is still intact, above 2800, but the setup is not safe/ready for a new long trade.

We had a long trade, which hit stop loss at 2920, and we have been out of the market since then because short term weakness was visible, while long term uptrend is still intact.

2828 is the 100 day moving average, and it should provide support for a short term bounce back to 2850-2860. Any reliable long trade will come above 2880. The S&P500 is down 63 points and most of the long positions have broken down today with stop losses.