Just getting ready... Champing at the bit...

Yeah, just a guess, but I think the chances are over 99.9999% it is going to bounce right from here. Just a hunch.

Make that statistically indistinguishable from 100% the bounce is started now, in my opinion.

Higher low super-duper launchpad.

Tick/1-min ABCD, just waiting for the explosion.

3D SL there and the nominal new low and additional stop run draws the big snap up. Let's see if it sustains. I know they are ready and want to launch hard any time now.

It has to keep probing, but I'll stand by that 100% read.

It's sooooooooo ready to explode in here...

Understand, I strongly prefer it just gets to that key 21 area straight away. But I also know the games they like to play, and it's primed for that bounce. It's just trying to feel for a launchpad, in my opinion.

Anyway, time for my usual joke in such situations:

I'm long 100,000 contracts.

Now, what would be a more realistic position, all joking aside. Short (do the work and figure out the when and where for that, it shouldn't be a big challenge), waiting on 21 area with a trailing stop. The idea would be a partial there (if it reacts) but some held to see if the area gives way. This would not be a very short-term play, this would be slightly above 'short-term'. For daytrading today (what I call 'intraday swing trading'), well, that I don't have to discuss. I gave the area I was watching, the idea would just be to find positions and play to that, or play each leg.

Maybe this is very close (I think it might be), and maybe it's not even in the ballpark. One thing I do think is if this isn't how it unfolds, it will be some other scenario equally vile. Sorry. I can't believe my 'golden years' as I near 'retirement' are going to be spent like this...

http://www.zerohedge.com/news/2013-08-31/guest-post-what-expect-during-next-stage-collapse