Where's the Support?

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Volatility just took over the market in a big way.

Nothing has been safe—Tech, China, Europe, even Bitcoin got slammed.

This has been a full-blown flush.

The bears didn’t leave anything behind.

So now what?

Where’s the support?

Where can this thing stop bleeding?

For the S&P 500, I’m keeping an eye on those former cycle highs from 2021, right around 480. 

This looks like a good place to start—at least for a short-term bounce.

If there’s a line in the sand, 480 feels like the right spot where bulls need to make a stand. Otherwise, we brace for a deeper and longer correction.

Holding here is just step one.

Now it’s about follow-through.

Momentum has to flip for this to mean anything.

Steve went live today to discuss some items on his shopping list and how he's trading this tape. He thinks a bounce is imminent. Watch the replay here.

Alfonso