Ah, Matt, thanks for that explanation. I wondered about that and what you say makes sense

$SPX weekly since 2009. The most aggressive MACD below has reached extremes. That said, momentum has become a lot more volatile the last few years. Often you get a bounce then a lower low on $SPX and divergent MACD low. We'll see this time

$VIX and $SPX pretty uncorrelated. Same for $VXN and $COMPQ

Open the pdf and do a screenshot of it. Output is an image file, usually png but jpg works too

Monthly chart of UM Sentiment

Ascending megaphone on $VIX 15-minute, fwiw when the Orangetang could disrupt global markets with some random pronouncement.

Futures gap down this morning was a good bet to close soon (as per Steve's advice in the last week or so). Not that it had to happen as quickly as it did

Some historical perspective

Yeah, I was wrong there. 3 of 3 most likely. Devastating, but probably more to come after it corrects

If this is wave 3, which is my belief and could be completely wrong, then we are in 1 of 3. The implications of that are pretty sobering

SPY daily - note the volume air pocket between roughly 532 and 522. SPY ventured into the 522 area in pre-market

SPY 555.55 close?

Update: Close, but no. 555.73

Took my last SPY puts off the table here. Done for the week.

I think technically it's a long-legged doji. Gravestone would have no tail underneath the body. A long-legged doji is largely an indecision indication, which would have me worried if I was leaning strongly in either direction.

Quite a doji today on SPY daily

HYG hourly still performing worse than $SPX, but showing a positive divergence on the RSI(5)

Yes, very much so. Thanks for that

Nice work, arun!

HYG diverging lower, already filled its gap

Lost 572 and bounced a bit at the gap, now down into it. May need to backtest the breakdown. We'll see