200 Simple Moving Average - Our Last Sliver of Hope

There is one last sliver of hope here for the bulls, albeit a small one, in the form of the 200 simple moving average on the 4-day chart. It saved us on the last precipitous drop and it could save us here. If it doesn't hold, then I'm fully expecting us to revisit that long-term lower trend line, which would be somewhere between 6200 and 6500, depending on when the drop happens.