For an aggressive trader, an aggressive short position here could certainly be justified. One just needs to be aware that the lower the market goes (more oversold it gets), the higher the potential for a strong snapback/bear market rally, especially if key support levels are defended and/or recovered shortly after being taken out & especially with bullish divergences intact at the time. The rubber band is stretched but hasn’t snapped yet.

Funny, I was just Googling to see if there were any recent articles about forced margin call selling in general & came across this one about a potentially huge margin call on Michael Saylor’s MicroStrategy if Bitcoin drops below 21000. That made me pull the chart & mark that level for future reference. Basically, Bitcoin futures (/BRR) is sitting on a major support shelf (and starting to crack below today) so if that level goes, it should be followed by a swift drop that has the potential to take it down to 21000 (which is also support) and if that goes, I’d imagine MicroStratgies won’t be the only one getting hit with margin calls. Here’s my daily chart of /BRR:

Looks like it’s going to zero. Everything to the woodshed.

It’s kind of funny to see one algo trading against another algo in last hour. It’s like terminator fighting another terminator. LOL

Just realize AAPL broke the trendline from 10/30/2020

They’re holding the VIX back because of the May VX contract expiration next Wednesday. If that cherry pops, the VIX will absolutely explode. I’m giving it about a 75% chance of happening.

Somebody is pushing AAPL down. This is certainly a rare moment!

Of course, it goes the other way too: If the bulls successfully hold this key support (T2 on the SPY & QQQ weekly charts), especially with the positive divergences intact, that could set up for a sharp rally so be on watch for any potential signs of a reversal such as bull candlestick reversal patterns, impulsive breaks & rallies above key resistance levels, etc..