Algos to Stocks: “We Got This”

It’s a light volume day leading up to a holiday weekend – the market’s favorite time to take a shot at important resistance. Though SPX tagged its 3.618 Fibonacci extension several weeks ago, ES has fallen short time after time. The disappointing employment data due out at 8:30 wasn’t going to help, so VIX jumped in with a 7.4% decline at 8:03, falling through the gap close at 18.21 from Feb 21, 2020.  It wasn’t quite enough to get ES up to 3998 (those pesky unemployment data.)But, then, the game’s not over yet…is it?

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