Much like King Author and his men did when encountering the Killer Rabbit of Caerbannog in Monty Python and the Holy Grail, buyers yelled “run away” from the opening bell and retreated right past the 2,840/2,835 Equilibrium. Buyers were able to regroup and form a line of defense at 2,795.
What’s that mean for the rest of the week? Buyers will likely have to battle sellers at the 2,840/2,835 on the upside since they barely acknowledged it as they flew by it on the way down today. On the downside, buyers hung tough today at the top of the Triple Witching 2,795 Equilibrium. However, any breach must be stopped before the bottom at 2,770 or the Killer Rabbit of Caerbannog just might rear its ugly head at 2,700.
Bottom line: it might come down to who brought the Holy Hand Grenade of Antioch. Buyers or sellers?
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