The Block

The bears' best chance to regain control of this market now looks to be a LeBron-esque come-from-behind block to prevent against an upside breakout. 

We may be seeing just that with the broad market softness this afternoon. Case in point: The Nasdaq-100 ETF, below on the daily, is fading off its 50-day moving average. Still, this may be yet another trap to lure in shorts if we gap up again tomorrow. Overnight risk remains considerable, which means vigilantly managing open positions is still the way to go.

On a separate note, the inter-market trades and setups like natural gas offer some alternative opportunities which equities remain slippery. 

More in my video market recap after the bell--The full one for Members and the brief one here.