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Watching $SAP's Reaction to the 154 Handle
Seems like $SAP is having a bit of a tumble today, hitting 154.33, right on a level that's been a bit of a pivot point lately. I'm curious to see if it finds some footing here, or if this is just a quick stop before it decides to test lower levels. My scenario would be invalidated if it decisively breaks below 154.00 and just keeps on trucking downwards without looking back, which, given the overall market mood, isn't entirely out of the question.
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Interesting observation on SAP. That 154 level has definitely been sticky. Are you factoring in any broader market sentiment, or is this purely a technical read for you?