AMEX:SPY It's been a while since I've zoomed out on the chart looking for patterns (I play short term), but this is what I am looking at on the daily time-frame. In this volatile news market, you've got to expect harsh whipsaw and you can expect to be wrong often...but wouldn't be surprised by a bigger dip in coming days/weeks. Looking at the tops and bottoms and what "phase" we are in. Pick your bottom. I currently have options strangles so I am set up for a volatile move in either direction due to the wild swings in news.
Feel free to leave comments, edits, and/or opposing thoughts.