Analysis: The persistence of last night's crash selling pressure is worth watching—the S&P 500 didn't even print a single 1H green candle

Odaily reports: The Kobeissi Letter posted on X platform that the most notable aspect of last night's crash was the remarkable persistence of the selling pressure.

During the session, the S&P 500 and Nasdaq 100 staged at least 5 rebounds intraday, one of which was as large as 1.7%, but every single one of these rebounds was met with selling. Throughout the entire trading day, the S&P 500 didn't even record a single 1-hour candle that closed higher. Today's trading session will be referenced by the market for many years to come.