The 120-day moving average is around 89,000, which sounds like a support level, but here's the issue—89,000 itself is a previous resistance high from the earlier rally around 87,500. Once it touches 89,000, there's a high chance it gets pushed back down to around 87,500. The panic level if it drops to this range is honestly probably second only to that wave when it fell from 128,000 to 80,000. Rather than exhausting ourselves trying to guess the bottom, we might as well sit back and see how the market plays out.