Distinct divergence between daily and weekly signals on the VIX and the T2100 (advance/decline line), so next week should be interesting.
With all 4 of the ETF basket coming off extremely oversold RSI2 bottoms or double bottoms, the odds favor a surge for at least a few days, although a couple good pops could easily swing things back into the overbought range. Most of the BZB Dirty Dozen support/resistance systems are on BUY signals, but based on current momentum many also look to be quickly approaching a neutral stance.
The XLE Jan 47 butterfly played out perfectly and based on the current LR30 channel, I'm inclined to do it again. More than likely I'll wait till next Wednesday to see out the long weekend effects the markets before jumping in. With the plethora of bad news streaming out, the odds don't favor a trend change at this time (IMHO), but stranger things have happened and if the Gaza situation gets resolved (unlikely), or if some of the majors give guidance higher (unlikely), then I'll look to close some of my neutral positions such as the XLP butterfly which is still right on the money, as is the XLU butterfly.