The trend condition in S&P E-Minis remains bullish and the latest selloff appears corrective - for now. However, today’s bear extension has resulted in a break of support at the 50-day EMA, at 6729.38. The break exposes the next key support at 6655.50, the Nov 7 low. Clearance of both price points would highlight a short-term reversal and signal scope for a deeper correction. Initial firm resistance to watch is 6900.50, the Nov 12 high.
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Note that the reports on Bitcoin Option have been downside protection of late.
Block trade in Schatz, suggest Buyer: