The Dow futures posted a low last night at 16208. 16231 was the 5% target I penciled out a few days ago. Just basic percentage math, nothing special.
The S&P futures posted a low at 1890. The perfect 5% correction would have been 1885 according to my math.
Now that we’ve had that tipping point, we well most likely get a relief rally.
Of course, the decision point is is there another 5% down? That’s anyone’s guess.
Its August. Its Summer. Market are thin. Trade accordingly
10% takes us to 15377 in the Dow and 1787 in the S&P. All Sep Futures.
Its 8:37 AM and we’re 17 handles off the lows in the S$P’s. The Dow is 135 off its lows.
CER