first target is 213.15. Stop is now 213.95, I don't want to see price get back up into that bear flag that just broke.

Yeah, I really need to have that screen up all the time.

I managed to fire off a short at 214.20 SPY. Just based on 5 min candle and trendline break retest.

Is he brushing his ear??

Question for anyone: in a downtrend, a good indicator of a bottom can be a divergence between SPX and VIX, i.e. SPX new low, but VIX not. Does anyone have further details on this idea?

Man, you are LASER FOCUSED!

No worries, I paper traded a lot a year ago w/ a coach; never did get the nerve to use real $.

Did not know. Thanks, I'll look into it this week.

Nice hammer-y doji on the 30 minute chart, too bad I don't have an account size to where I could trade ES.

For less than a 2% drop in the SPX, the VIX has run up pretty hard (seems to me anyway).

The 38.2% fib and S1 both come in at about 2163-64

Pretty clear 5 waves down from the morning high. Due to the possibility of a flat, this doesn't mean we are going down any further in the very near future. Just have to see. I'm watching the fibs for any turn leading to further downside.

I shorted a small amt of SOXL at 43.45 this morning. Not bad, I'd say.

Absolutely! But what I am saying is it's a marginal break at this point. What's your take?

We're right on the cusp of breaking symmetry (technically 3 pts over), although I think it's still too close to say definitively. I'd like to sell a SPY call spread, but just not quite there yet.

X axis is not labeled!

I hear you. It actually just helps me to focus a little to write on the blog. Thanks for being a sounding board. And here is my chart:

Currently it's at 139.57, 10 cents below yesterday's low. Guess I'll leave it there.

TLT - chart discrepancy. Your stockcharts chart shows the July 29 high as 141.42, but TOS and Google Finance say 141.68. It's enough to make the trendline different such that price clearly broke the trendline yesterday but then fell back inside again.

I am long in my IRA - do you have any thoughts on where to set the stop? I don't mind it being a little loose, but I am not sure that I want to go all the to the lower trendline. It's not a big enough position to warrant two stops on 1/2 of the position.

No, still undecided. Looking heavy.