After the dust from Thursday's U.S. action and Eurasian reaction settles, this is tradable from the long side.
Very short timeframes, very tight stops.
From Bespoke Investment Group:
Where Things Stand
The dust has settled on trading today, so where does the S&P 500 stand? On a closing basis, it might not be as bad as you think. As shown in our trading range chart below, the S&P 500 is now just into oversold territory and trading right at the bottom of a one-year uptrend channel. From a breadth perspective, only 28% of stocks in the index are now trading above their 50-day moving averages. This is right near the lows seen during the prior big pullbacks over the last year. Needless to say, tomorrow and the next few trading days will be very important....