Houston, we have a problem
The pullback that started after the open Friday continued today. Fibo traders looking for the 50% target found smooth sailing today hitting every bounce.
The week after option expiration is a great time for the boys to revert to the mean as it does significantly less damage at the beginning of the new month cycle.
So they killed the puts beginning Thursday, then Friday they killed the calls.
Just see it for what it is: a manipulated arena of professionals, amateurs, and everything in-between.
Fighting the flow will only get you in trouble.
Some gurus were calling for 10 point stops this morning. Ridiculous.
Stand aside if you cannot give yourself a better edge than that.