The most concern for every investor or trader is what direction and where the market will go next several days or weeks.
- long term still bull market, all monthly, weekly, relatively longer term daily MAs are all moving up firmly
- only concern is the short term market direction and where to stop the current weakness
- after market hit 2400 (wave 5-3-3), if this down wave 5-3-4 has been already finished or not is still in question
- the probability is go with wave 5-3-4 not done yet (VIX future is in contango, potential shoot up)
- line in the sand is bull defending line 2340
- even the wave 5-3-4 not done yet, where will it make a stop: most probably double bottom: 2322, or 2300
My personal opinion is not for investment purpose, but for education and illustartion