Slow Morning Bounce

After some opening strength which was faded into red, buyers are staging a methodical bounce-back as I write this. The SPY, ETF for the S&P 500 Index, seen on the 30-minute timeframe below, has morphed into a larger sideways pattern, denoted by he light blue lines. Buyers brought price right back up to that $200 area, which is likely going to be a battleground as move through the rest of the morning. Solars are finally catching a bid, with SCTY leading the way. However, they are virtually all broken charts and should probably not be traded for much more than day-trades or swings with heavy profit cushion. Crude oil looks like it may be bull-flagging intraday, gauging the USO ETF. A move back over $18.25 there may see me going long for a quick flip. Finally, if bears reassure themselves today I have COST on my radar as a fresh short.