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Here is an excerpt from our trading plan.
The sharp drop at the end of today was scary looking for $SPX $NDX $RUT. And futures actions tonight suggest a big gap down at open tomorrow Wednesday, most likely toward the very bottom of that yellow-to-green support zones we showed last night.
There's a lot of nervous talk about new Down Trend. A lot of bulls are disheartened by $SPX dropping after hours below the strong psychological support line at 2800. It feels like capitulation time.
We want to emphasize that all the bullish underpinning that we wrote about yesterday is still intact. And we are approaching capitulation.