PUT Position Contingency Charts

This is the EXACT chart concept drawn earlier today as a potential move that would create a put/option position at a discount/low risk and excellent timing as nothing has changed about the 3C charts, it's just the head fake concept that's so predictable we were able to draw it well in advance of the trendline even being broekn, which would be the first setp...

 This is the trend line I was talking about, the uptrend from the move up of the last several days.

I actually drew this exact chart earlier today to demonstrate the possible concept that may occur, giving us a great Put Option set up or an entry in to any of the inverse ETFs.

From Market Update...

This is the exact chart showing the rounding top that often comes as an "Igloo with Chimney", the chimney being a head fake move above the intraday rounding top or a false breakout that fails, making a put entry during this move an excellent entry.

Now compare this chart which was drawn before we even had a trendline break to the one above.

 As for the Trend Channel, the 30 min Trend Channel has held the entire SPY move up and it just gave a sell/short break signal under the red trendliine.

If we use a slightly wider stop channel which held the majority of the recent downtrend and all of the recent uptrend, then it looks like this...

The stop being a close on the 60 min chart below the red trendline, almost there.

As for some of the intraday signals, intraday breadth would be one and we can see that on the NYSE TICK and my custom TICK Indicator.

 Today's TICK Trend has been one of deterioration all day from yesterday's +1500 to today's -1500 and clear downtrend channel with a recent break out of the downtrend.

My custom TICK Indicator showing the trends more clearly from down at the highs today and down as we moved below the trendline which would serve as a trigger for any such move to recent improvement in intraday breadth. Again, this doesn't effect the 3x short positions already entered, although it may be a second chance buying opportunity.

The SPX/RUT Indicator is still calling for a move lower, it's not calibrated for such a short head fake move....

Here the indicator in the bottom window calls for a base and rally in advance and as we rally it starts calling for a pullback in advance which is what we re set for.

 SPY 1 min chart, as I said, I can't say for sure if this will happen although it was a clear probability. In this case the 1 min SPY has an intraday positive that has formed after the break of the trendline which is what needed to happen first for this scenario to be possible.

As I keep saying, this has no bearing on the positions already entered, the 5 min chart is evidence of that.

Leading negative, so if anything, it's a short term head fake move we can take advantage of if it materializes, if not, we stick with what we have.

It's not just the SPY intraday 1 min...

 THE QQQ 3 MIN HAS A SMALL DIVERGENCE, AGAIN NOT A CONCERN, BUT AN OPPORTUNITY IF IT CAN FIRE.

The IWM is in line so it's not telling us anything either way.

I'd just set some price alerts, have the asset, strike and expiration keyed up, obviously I'd chose SPY or QQQ and just be ready if it's a trade you are interested in as I doubt it lasts long.