I stated yesterday that I do not expect us to go lower than 1865 and then get back up, maybe to 1915. The nature of today's decline will say a lot about the next move, as well as how we bounce. I expect a period of about six weeks of a relatively narrow (100 to 120 Naz from 1842) trading range, before later in December - early January, we try and make new recovery highs. For today, I have already started deploying and will continue in the first hour of trading.
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