Pfizer (NYSE:PFE) is basing near its lows and is likely to rally a bit with the market before turning lower. The Red Zone indicates an area where we would expect price to turn, and offers an area attractive for short exposure.

  The ETF that tracks the price of West Texas Intermediate Crude (NYSE:OIL) pivoted off a minor support level into a “V” bottom. This was not a viable entry for our methodology, and so we wait for a more qualified long entry possibility to form.

  The S&P 500 index proxy (SPY) been stuck in a tight range due to some historic options imbalances. This is likely to unwind in a highly volatile manner and offer some long opportunities to those trading this market intra-day, but for a daily cycle, we remain on the sidelines as we near the end…