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S68.50's

TICK had rolled over hard, and we were trading below the little ledge at 69.75's. Plus volume wise I figured that if we got back under 68's it opens up a whole new volume "boob" to explore. I think we could move down to 61's or so.

Looking like there is some big downside potential now!

b/e

Back in 68.75.

Out at b/e

S8.25's

smells like a selloff to me at the moment.

Could be, but we are currently back inside of yesterday's range, and with a potential H&S pattern forming with 1370's (ish) as resistance. I'm personally wary of a long at the open.

Good point ;)

Exactly. One of the first real strategies that I tried to develop on my own was based off of TICK divergences after huge extreme readings like that. I personally could not find a consistently profitable angle to work using that method. I found it far more successful to look for TICK readings...

Indeed. Are you just noting it, or do you feel there is a setup based off of that? I'm not attacking, I'm genuinely asking. The reason I ask is because we had a +1200 reading on the TICK this morning at 7:40 PST as well. Do you see something different between the two?

Higher highs and higher lows all the way! (I'm sure the market will reverse now that I've pointed it out)

My thoughts exactly. They might be looking to try and get price down there again to get out for b/e, but we should see some buying there if we revisit.

This so true in my experience as well. Until we see some sort of 30 point bloodbath, I don't see this thing rolling over.

Ugh, doesn't look good for the long case anymore to me.

I'm thinking we'll tag 8.25's at least. From there, not sure...

I'm not ruling it out either, but I'm a permabull :D

Pretty much :) Although right now the shape of the chart looks like it's anyone's game.

bah, out for +1