Quick Update

I have a 10+% gain in the IWM put opened earlier today and was considering taking the profits as it wa meant as a quick trade and knowing Tuesdays over the last several months have almost always closed green.

This is the area where retail is supposed to, "Buy the dip". I'm very interested in how that goes, so far the divergences for the dip are not that spectacular, even for a bounce move.


I decided to stick out the IWM Put, it has a June Monthly expiration.

Here are a couple of quick charts for today's action.

 IWM 1 min positive divergence

 IWM 2 min positive which should or usually does guarantee at least some sort of bounce rather than a consolidation sideways.

The same IWM 2 min chart with some wider perspective for recent action of the last 2- days.

QQQ 2 min also looks as if it will bounce.

The 5 min chart however is quite damaged just from today.

SPY 2 min and the start of a bounce as it is now in line.

 Nothing much at the 3 min except the negatives in to higher prices from earlier.

Again the 5 min with pretty significant damage for a day.