From Humble Student of the Markets:

While the stock selloff in the last two days has been breathtaking (just as the rally last week was breathtaking), even if you are bearish, I wouldn't be too eager to commit to a bearish trade here. There are just too many bullish triggers over the next few days that could rip the face off anyone positioned to the short side.

First of all, the market just kissed the 50% retracement support level as shown...

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