New here so please help if i've missed something.
i think we could see a short-term rally to 3,138 (bb level) or even 3,333 if things get really over extended and take out the 6/8 high. My base case however is brief rally monday/tuesday and sell into and through quad-witching. I also think the market will turn its attention to the election and potential for a blue wave in November. I don't think current pricing reflects that risk. 3K appears to be a technical (likely psychological level for new robinhood traders) if there is a sustained decline below that level, in my view. The bulls defending 3K on the daily shows some resilience but i think the prevailing trend will shift to bearish in the near to intermediate term.
i think we could see a short-term rally to 3,138 (bb level) or even 3,333 if things get really over extended and take out the 6/8 high. My base case however is brief rally monday/tuesday and sell into and through quad-witching. I also think the market will turn its attention to the election and potential for a blue wave in November. I don't think current pricing reflects that risk. 3K appears to be a technical (likely psychological level for new robinhood traders) if there is a sustained decline below that level, in my view. The bulls defending 3K on the daily shows some resilience but i think the prevailing trend will shift to bearish in the near to intermediate term.