The downside won't stick around because there were so many "trade talks going well" comments and "there are 34 trade deals currently pending" remarks from the White House today. The market won't stay down into the close, knowing there could be a trade deal announcement after the bell.

So, basically, we're back to the era where the White House watches ES1!5302.25 tick charts and makes ridiculous comments just to prop up the market. This will work until it doesn't.

I wouldn't short into the close today.

Always keep the big picture in mind. Remember what I said at the beginning of the week:

1. A weekly low around low-to-mid 5100 this week

2. A weekly positive close this week

3. We'll make a swing high next week, and from that high, we'll head to sub-4800 in the following weeks

I gave these projections when ES was cratering on Monday in premarket.

#1 already happened.

We need a weekly close above 5320 to satisfy #2.

We'll see about #3 next week.