Nazdaq Composite - Appears Bullish in Short Term

2 conflicting signals...

With a longer outlook, a double bottom was clearly formed, giving rise to a technical view that, Nazdaq may have bottomed.

However, for short term trades, keep in mind several bearish technical signals. note that RSI @40 is in no man's land, making it useless at this juncture.

Thus, if one has no position, and insists on entering market, it appears that a short term bearish position could be more logical; eg Long Put Spread, Short Call Spread, Long Put Ratio Spread, or even a Long Put Tree.

I would avoid the flies and condors, which are more for volatility plays. and given erratic volatility; sometimes low and sometimes high, no point getting suckered on multiple commissions.

I feel that it mught be better to stay sidelined, as it is not exceptionally clear in which direction the market is headed towards...

Finally, accounting for the double bottom and a longer view, i am decidedly more bullish bias...as such, better to open Short Puts than Short Calls.

Good luck everyone...and best of luck !!!!