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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.