symmetry clearly broken.

Oil is breaking out.

Looks like a double top in the making here intraday.

A bear call spread might be doable. Did not mean to sound so strident in my post!

Sure, but the capitulatory selling shown on your chart indicates that most of the those who were intent on selling have gotten out. So it might drift sideways from here, but I wouldn't conclude that it's going to go shooting down again.

And the SPX looks like a cup & handle on the 15 min chart.

Also, it's up against the 61.8 retrace from the morning high to the afternoon low. SPX that is, not ES.

Also, it's up against the 61.8 retrace from the morning high to the afternoon low.

NYMO - I sure like the signals on that. One thing I noticed is that when there's a signal in the -35 to -50 area, you almost always get another signal further down about 5 to 10 days later, and price is lower. This second signal leads to a longer hold (2 weeks) and a larger gain about 1/2 the time.

Pretty much the way I looked at it, but just felt like thinking through broader considerations like trend direction and MA's.

A little chart analysis for discussion, hopefully some disagreement: I would not get into JD at this point because it's in a down trend and it has not yet tested the 50dma from below. With today's high coming near the open then immediately reversing down intraday (never a good sign in a bear market), and possibly setting up a lower high on the daily, I don't see this as a great trade going forward. Am I too pessimistic?

Matt or Steve, is there a clever way to play USO using options while price is still inside the triangle? I.e., strangle? Does anyone here have a good handle on options? I'm only able to paper trade these days, except I have an IRA w/ a financial advisor, and we could do something there.

Yep - I'm in the middle of dealing w/ some paperwork for my younger daughter & school, so just dropping in. But Matt, if you need someone to do some XL work in the next month or so, let me know.

No time to post a chart (sorry!) but there is a small symmetry break just now in the bounces since the downturn off the highs.

thanks. Absolutely will trade my own plan.

Steve or Matt, do you have a measured move for QCOM? W/ that kind of descending triangle, I'm not that familiar with what it would be. Today's my last day here for the time being, btw. Thanks for your excellent work.

otherwise, (since I don't have the account to trade ES for real money) I guess it's back to gap fill theory then! if it penetrates the high of the 1st 15 min candle, go long, etc.

Hey Matt, do you have a way to get into an RVM trade on SPY when it gaps so deeply down? Just buy the close of the first 5 or 10 min candle and place a stop below the low? (I covered my short premarket and then went long when it dipped even lower, so I am already in.)

very nasty shooting star for the day. Made a new low in the last 5 minutes of trading too.

TLT 5 and 9ema now pressing down on price, so I think it goes lower. And the morning high is now higher than the 9ema so I won't try this one again.