Update

OK, expiration date is moved up, so we need to be watching the market carefully. Which also means longs and profits should be considered early rather then later. The SPY is showing some 5 min distribution which is good (for our bearish scenario.)

But some of the leveraged ETFs are looking a lot worse...

I'm hearing reports of certain traders going in 100% long, which is what we want. This is the kind of gap up I have been wanting to see, it's also near that inverse H&S top neckline which the bulls have been talking about all week.

Understand volume is crucial to confirming either type of H&S, but more so with a bottom. The volume confirmation for a bottom is not there. By this time it should be huge, not some of the lowest of the year. So our scenario seems to be setting up well, just moved forward quite a bit.

I'm going to be exceptionally busy today watching charts, it takes 3x longer for me to update with charts and I need to watch the market so I'll try to get them up when I can. Emails I'll answer as soon as I can, but if it's urgent, please put that in the subject line.