CBOE upgrades are acting as exit liquidity; the gap-up followed by an immediate drop supports a bearish/short view.

the biggest one in the list is the CBOE and this one's had a couple of upgrades over the last little bit. But if we look at the daily chart, it looks pretty crummy um in terms of high, low, and then this area right here.

So, I had this little thing that I use that says, "Let's take a look at how it responded in the earnings." And so, I look at that earnings candle and I take the top of it and the bottom of it.

And then these little green and red bars are expansions below and up in Fibonacci sequences. And so, what we notice is it fell into that base.

And I've got something called sort of a it's called a VWAP boulevard, but what it really does is pay attention to where those high volume candlesticks of times past have moved in.

And so we've got this flat 100 simple moving average. And so my suspicion is what they're going to do with this upgrade is they're going to force it into the pivot areas, maybe 277, maybe 280 somewhere around that zone. And then we're going to watch it fade.

But for our CBOE, here's what's interesting. See, it's gapped up and it's immediately begun to fall. So, if we take a look at that structurally and we go, hey, I think this is going to be used as exit liquidity.

Because it's come into the 100. I mean, look at what it lost. It lost seven bucks at that opening tick. They just went boom and sold it all. But let's look at the size buying at 71. That one just came off at the edge.

So, yeah, let's let's see if they reduce that. So we'll leave time and sales up and have a look at it.

So, what you'd want to do is you'd want to look at that one minute, look at the one minute low, the one minute high, and if you're thinking to yourself, okay, I still want to short this.

You could get in here and say, "Hey, let me sell this at 27170 and see if it pops up for you." And then you can just walk it down your pivots and and do it like that.