Posted this a couple weeks back. Seems right on target. The 11-candle pattern is interesting.
Buying puts on $SPY and calls on $GDX because this is just the beginning...
I don't see it stopping the slide until a drastic new bottom...
Volume tells the story. I'm expecting a pullback to $227 to finally *fully* close the gap and drop beta closer to 1.0
I think algos are moving to clean out latent value. Between LTCG ranges and unclosed gaps (up), I still think we see another dive until key names close major Trump gaps. $NFLX is a leading indicator, IMO , and the LTCG + $227 unclosed gap implies, to me, some wiggle-room south. If things go poorly, the red circle is my first short target. If not, the green trend...