As you see from the futures (/ES), the level corresponding with 2060 SPX was tested multiple times over the past 3 hours.
This ~2060 area corresponds nicely with the first target area on the Fibonacci Retracements (23.6%). Usually this first retracement level does not offer great support, but with such a strong bull market run, it may this hold this time.
The NDX has come back to the breakout level already today also, but has not yet touched its first Fib target area.
I often watch the markets usual moves and for the SPX that is within 3% on a weekly basis or around 2034 or higher depending on how you measure it. This current sell off seems ordinary, so I would expect the limit to the downside to be within that 3% range by Friday.
The 2030/2020 bull put spread is selling for about $0.90 cents currently, offering about a 9% return for a 1.5 day trade.
