Another Black Tuesday?

Well Traders, what is it about Tuesday's and bad stock days? You must have been on planet Mars if you didn't hear about the MASSIVE sell off today in the markets. The DOW went plunging over 540 points at one point shaking up more than a few investors I am sure.

What about the $NDX? Well, the index dropped over $74 points to end at $1,756.27. Looking at the chart you'll see where it stopped...right at previous strong support. Coincidence? I don't know, but we'll see how strong that support REALLY is now, won't we? Here's the chart:
As brutal as this day was to the markets, it was just "eh," to my Iron Condor. I am now practically dead center of my trading range with a little less than 3 weeks to go. Truth be told though, I can't last through a few more days of $74 point drops. A correction was imminent, and this may be the start of it, but let's hope it doesn't really get going until after the 16th!

De-fense! De-fense! De-fense!

Happy Trading!