This market is gamed pretty hard, so I wouldn't actually trade this. However this market is long overdue for a bear phase, so who knows? If I had confidence this wasn't actually going into a bear market, I would go long instead of short, as that's the pattern I've noticed. Expect the opposite of what's expected. Those are terrible conditions to trade under however. If I knew more about options, I think there could be some really great straddle plays here as the VIX is also breaking out of a bullish triangle pattern.
Let's hope this thing breaks downward and we can get this show on the road.
Let's hope this thing breaks downward and we can get this show on the road.