All were warned not to trade a day like today. Its called chop and you walk . It can mess your mojo up.
Nonsense.
Market has done nothing but go up since 11:15. Even if you got chopped a bit early and were wise enough to back off, sit on your hands and re-evaluate - you were rewarded if you got long second half of the session.
I'd lean more towards scenario 1.
Hard shakeout of longs before continuing higher on the day.
EDIT: Let's see if we take out yesterday's lows on the cash index, possibly causing some follow-through or rather some artistic stop running.
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