This will be a big day. If we stay or if we go. We are at some large resistance points right here. If we go down it will be a bumpy ride. Resistance points at 206 trend line, 205 fib, 203 fib, 202 gap fills, 202 at the 5% retracement, 200 at the 200 EMA and finally 198 is the final resistance before a major drop. Hold on to your pants.
Futures are down 13 pts today at 7:30 am EST, Not good for going up on the day.
I would not trade this if you are in long term stocks. Hedge your down side with SPX and SPY options to the down side to protect your longs. If you are a day trader or a swing trader you can play the turns.
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