It was chopped in the beginning of the day. I chopped that 4 times for 140 pts already. Well, less 50 pts with the last short, but we'll see what happens the rest of the week.
Definitely weakness in the bounce. Very transparent in the VIX correlation to the bounce yesterday. People are still hedging downside and still are wary of the downside. We don't conform absolutely fear to absolutely confidence in 2 days. It takes time.
When I stopped looking at purely PA, I tend to do better. It is good to complement all the tools available. Feel the markets and anticipate, then, let PA confirm the play. If its weird, then, exit.