The 1690 support was tested about an hour after the open. Price traded below support for about 15 minutes, probing as low as 87.5. By retaking the 1690 support, stuck shorts set up a great long premise. As you can see on the 15 min. chart above, this second 1690 probe short showed a weaker stochastic. This plus the VIX (which isn't pictured) gave added conviction. I entered at the green dot when the bull cup patters was completed. Price eventually ran out of momentum at the 1700 resistance, which has proven to be legit. It finished down back at 1690. This has been like an extended MATD oscillation environment reacting to Friday's bear trend. Looking forward to see how this develops. #dialedin