Going back over the last few years, most of the tradeable lows in the market have taken about three days to set-up. After a washout move, there is normally a weak bounce to follow, then the test or breach of the washout low.
My preferred scenario here is that we’re red tomorrow, with all the indicies testing or breaching lows with the exception of the Russell.
I think that move might last 2-3 days…but from there it is imperative to see where the $VIX and ATR’s are at. If they remain elevated, it would be wise to balance things out with a couple of strategic shorts.
For the day, I am only watching. Tomorrow, I like $SPLK, $PANW, $GPRO and either an $AMZN or $GOOGL depending on where they land.