Ok, everything is looking good for a bottom this morning and then a powerful squeeze the rest of the day of 100-150 points. We are into the zone now but I think we could reach 5840-5850 on the ES, and that should be it. It's a rough zone and my plan will really be based on a gut feel, but pretty much shortly after the open we should see the bottom. Then we rally hard, which will likely top next Tuesday or Wednesday. How high will it go you ask? I think somewhere in the 6050-6080 zone is possible, but I'll really just be looking for exhaustion and "time" to play out.
Meaning Tuesday, maybe Wednesday should be all she wrote for the bulls and then we should rollover again for the next move down, and I think it will be the one that hits and pierces the 200 day SMA, but that's yet to be known at this point. Let's first see the bottom today play out and the squeeze into next week.
Have a great weekend.
