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Thought I clean it up a little. 

 

Pretty much, how I'm hoping to play it. 

 

 

Someone posted an election year chart on Reddit. Really just for reference, besides January and February pretty consistent in terms of sentiment per month. 

Looking for GOOG to break down again. I'm in the 550x June puts at 1.52.

 

I'd like to see it test $552, that's the first weekly support level.

Yeah, Im looking for GOOG to take out yesterdays low. I have a position already, but if we break i wouldn't mind adding to it. 

So much for that, got stopped. 

I'm still in mine, it's lagging pretty badly here. Still in this descending triangle on the 15 min.

So those H&S formations are just way too easy/obvious IMO. We may very well see a clean break up here to violate the existing RS and tempt bears to thinking a symmetrical RS will be formed in the mid 1320s. That would set the stage for a nice breakout past 1335 (which would be significant if you consider the Jun-Sep -6.60 spread) which would frustrate patient longs who wanted in near 1290 and eager bears who saw a nice H&S which they hoped would smash the bigger inv H&S... basically everyone would be pissed with this outcome. Currencies are gaining some traction here. I'll be interested to see if ES can retrace a bit and hold the 38.2 fib of today's RTH range (c. SPY 132.85).

 

And I just cut losses. Trying to breakout now 

I actually bought some July 560p. Going back to my roots a little bit and staying away from the weeklies for the most part, I feel the choppiness is killing me. I'm still looking for GOOG to break Tuesday's low

 

Good luck. I'm hesitant to buy July's at this point.

 

But I still think it's going lower, that weekly chart is ugly.

 

If the head should pattern plays out, we're looking for a target of roughly 130.5.So far its leading my to be believe we'll see a little more downside tomorrow.  

 

 

I was looking at some of the option volume and there's definitely a put heavy bias. Seeing how many of those puts were traded at less than or equal to bid leads me to believe those are being sold as well as bought. With a swing like that, I suppose its expected. 

Looks like the H&S is about to fail on the USD.
Market may follow. Monday may be another story but I think it my be a non-event.
Thanks for the invite by the way.
No charts. On iPhone and I think everyone here can read a chart.

Thanks for the invite Charulz,

I would like to chime in on the Dollar correlation.
I have this odd idea that the correlation always exists.
When the correlation seems "weak" as Rando put it, I think that is when the markets are really moving on their own merit, so to speak.

I've logged this crazy theory of mine that hidden sentiment exists in the difference in between the two. "Strong" correlation would be the market responding only to fluctuations in the currency or what I define as "parity" or not much difference.

I also think that the difference between US Treasuries and Yield bears watching.

 

As well as Gold I think may be telling us direction.

 

 

a lot of conflicting programs on es right now imo.. this should be interesting 

1299.75-1305.5 is rather fappy

Yeah I'm starting to drift away from trading the formation. It's been incredibly difficult to even day trade, hard to even ride the momentum with violent swings triggering my trail stops and stop losses unexpectedly. Like GOOG this morning. Takes out last two day's low, set a trail stop and GOOG rips and runs past my trail stop. I may be leaning towards the bullish side here, so far the market isn't moving in a way you'd expect if poor sentiments were to come from Greece over the weekend. Rando's post slipped past me and I didn't notice it until earlier today and I agree, maybe we should be looking for max pain around these levels. 

I fapped 05s for sure

Best case scenario for me if we do take out this resistance and complete the inverted head and shoulders: