Seems to be a solid push to the bear side, a strong 38.2% retracement, could be ready to re-test the fake breakout a few days ago. Hoping we can get out of a consolidation pattern and pick a direction. I think this re-test will break out and hit the next level at 265
the KC dropped below the BB line, and the squeeze is now in the red, looking for a sharp drop here. I placed 57DTE bear call spread risking 2 to make 1. I noticed this same pattern developing on the financial earlier this week (XLF), but hesitated and really wish I hadn't. So now its consumer staples turn.
The yellow box indicates profit zone for the options
(i) 1,2,and 3 gartley's X:D consistently 1.25 and squeeze is consisent with the C:Ds 6 bar config
(ii) Ichimoiku is in the cloud and testing the resistance side of a lower bound
I think its going to squeeze at the Ichimoku level of the kumo