1: Bigger picture, as long as QQQ stays above 485-490 and SPY above 5650-5700, we are still in the normal 10% correction cycle that we have been discussing since Dec of last year
2: The uptrend started from 1/13, which could take us to QQQ 560-575 is still technically there, but looks very much on the edge. I mentioned last 2 days that QQQ 508 and SPY 5920 is the last line of defense for this uptrend. Well, we are right here today and bounced up so let's see if MM can continue to bring market up.
But even if we fail here, it just means 1/13 uptrend is no longer valid. However, the bigger picture in #1 still holds.
3: In my view, only #1 breaks down, then we are open to the possiblity of some real downside risk coming
