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good afternoon everybody itamp;#39;s Scott Gillum with the stock and options squawkbox video and after todayamp;#39;s opening flush to the downside on the weekend we had news that came in and brought both the Samp;amp;P 500 and the NASDAQ on a massive gap down this morning that is at this point trying to recover letamp;#39;s take a look at the charts and then weamp;#39;ll go into some commentary on this Samp;amp;P 500 when I take a look at where we were on Friday around that 5350 level with the gap down this morning at 5150 we had about a 95% draw down from the highs that we saw back in July to where we opened in flush two this morning on a Fibonacci basis if I take the April low which we just went through on our way down to that April High weamp;#39;ve now done a full 100% retracement and weamp;#39;re back trying to get ourselves back up to this 236 recovery level the low point that I want to bring to your attention is this blue line which is the 200 simple moving aver
