We have now evidences on how market participants behave during the fastest and deepest drop in US Equities in history. I have been reading every source that I trust and trying to make a logical rationale to give more probabilities to one of the two scenarios: UP or DOWN from here. However it is still
As you can see from the picture below. The SPX structure improved yesterday. Historically, once uncertainty is reduced the market usually move to the next resistance area. My opinion is that we are right at resistance. If Bears were correct on the last liquidation. We are right on the spot where selling can resume. PE