I was aiming for a test of resistance within the purple box. We can still test this area; either way, I'm betting on a wholesale decline in equities.
THIS IS NOT A CRASH! US equities will not crash. We are simply in a consolidation period of multiple months, possibly years, which will eventually lead to an explosive rally.
My targets are the two support lines. Should we break the second, I will be able to better judge where a buyable low will form - and there WILL be a great buying opportunity. This is a multi-month trade, lasting over the Summer, and possibly beyond.
For now, I'm short, and will add on any intraday rally on Monday, and possibly Tuesday.
Only a solid daily close above the previous swing high in the 25300 area would shift me into neutral. The market is would have to rally beyond the 25800 to make me .