As most of you know, I am a chameleon. I only lean bearish because as an options trader you get a twofer. If your bearish and it goes down hard, you get direction and volatility. So same as stock you want to buy low (I.V.) sell high. That being said if I can make a nice chunk for my peeps and I on the upside, that's what we like too! 

I feel the markets give you signals when things are about to begin  change. The charts along with divergences, and certain sectors being in favor. As in crude has been telling us for weeks (down) that things were getting bearish. Those are the kind of things I watch as a trader, divergences. And this has been the "Year of The Divergences" asI mentioned last week.What I have noticed is the more severe the divergences, the more severe the correction. All the commodities have been screaming at us that a correction was coming. 

Now all that being said I will put up some charts, that very very (week to two) things could be bullish as on the daily chart we have a nice Head and Shoulders pattern going on. Along with that is a huge Bear Flag, Big down move (vertical up or down) the last daily move was down, the sideways consolidation, or digestion. Nothing goes up or down one way and that's the reason it's so important to read charts. 

Here is Crude and ES 

Now For Gold and Silver 

Will be adding more charts as the day goes on, good/safe trading to all. I do think we are getting quite overdone on the downside, that being said any bounces or rips should be sold at this point. 

And now for something juicy i just noticed the ES setting up for an nice inverted Head and shoulder pattern possibly. The levels are on the chart 

Update on /ZB (for Audio) and /ES

Update Apple 1 and 5 min 

Update daily TF

Hi everyone 

So sorry it has been a while... I get discouraged when i don't see many comments and it is time consuming to keep the blog rolling and do charts and updates. But this has been way too long. I also wanted to let you know that "our correction" is near. Now it could feel like a crash but i don't expect more than 10-15% as of now.

We have been seeing the signs in Crude Oil futures, Rbob (gasoline) futures, commodities in general as well. We got a small wave of it Friday and Sunday night, but the market became way oversold by the open and it steadily crept up the rest of the day from Emini's 1342.50 to 1370 area wow that's a big move up from the lows!! Now if we put in a lower high ie 1370-80) that would make a very nice head and shoulders pattern that could take us to 1320 1300 1280 (not in a straight line) even lower, but it may take a month or two to fully play out. I see the cracks everywhere. This has been the year of "The divergences!" <exclamation point!!>

So lets look @ Energy via some Crude Oil and some energy stocks. 

CHK