Black Monday

Yesterday again I warned to be cautious and even to stay away from the market. Intraday trading was about OK in the morning but prone to execution problems.

What can we expect for tuesday?

ES: prices found some support on 1125, the MM level even if penetrated, can be regarded as holding. Having said that, it is clear that a LOT of uncertainty remains in the market and a lower bottom is possible (1070?). After yesterday's shock, a technical bounce is likely even if not visible yet.

ER: Same - Despite the bloodshed, it seems there is also a support level here (656 on MM, 645 Fib), and also a lower stronger level at 625.

Again, I recommend staying on the side line until volatility comes back from stratosphere.
--- DO NOTE HOWEVER THAT THE MARKET COULD THEN ALSO QUICKLY GET BACK TO RANGE HIGHS ---