Price moves in are always fast = resolute measured moves,
and new movements are always set off by price violating previous target destination points.
In trading ,everything is happening at the speed of sound, like flying in an F-15 jet.
in my overnight research, overnight rally in S+P 500 on 10/25/18 may be legitimate.
S+P 500 Dec 2018 ES could have reached their initial destination point at 2664.25 Settle on 10/25/18.
Large spike in last hour of trading on 10/24/18 may have been legitimate "capitulation".
Yet the jury is still out, and no decision is made yet.
If ES 2664 were to fail for the balance of the week...
Target destination for the next measured move in ES.. is at S+P 2584.00 !
Shorts should watch 10/25/18 trading carefully in the S+P 500 ,
for any "first signs" of a potential meaningful first low here.
10/25/18 445 am
from the 2651 SPX low low on 10/24/18,
as I had suggested from this post earlier today
that a LOW could be in place in the S+P Futures,
which indeed turned out to be the case.
SPX 2700-2710 now immediately offer's strong RESISTANCE on a Closing Basis.
Any kind of strong close ABOVE 2710, would be a BUY SIGNAL,
and shorts should look to cover on the close,
as that could absolutely signify a more meaningful bottom is in fact in place.
These are my own opinions, and are not trading recommendations.
10/25/18 1220 pm New York