On one hand, it might be a good time to pick up for a short term pop, and on the other it looks like it's decisively under the 50dma so wait for the bounce and buy the puts. And then on the third hand it could be forming the cup and handle. Great opportunity all around!
Looking like this might have finally turned around, at least for the short term. We'll wait and see if it breaks its trendline and holds, and then there's resistance at the 50dma, which it needs to break thru to consider it truly a long option.
The 2000 and 2007 down trends seem to have really started when the blue Stoch RSI line crossed below 20, which seems to just occurred here. Will a downtrend start in the next two months instead of September? Stay tuned! Same bat-time, same bat-channel!
I'm sure like a lot of people I've been watching the monthly rsi waiting for the coming market slide, but this morning I just noticed that it's the Stoch RSI crosses < 20 that seems to confirm the beginning. So really sell in May this year?