Loading ...The tick extreme would have greater bullish implications at the bottom of a range (like ’32 and ’82) than the top. It just means traders got caught flat footed today by the Fed’s panic inducing intervention.
So you might be right, not that stocks will necessarily roll over for a test of the lows right away either.
Lots of shorts got squeezed out today, so a down move tomorrow would not be surprising.
Cheers