Whoa. Of course I"ll have a lot more to say in the weekend posts, but that was a shocker.

For the second time this year, investors have woken up to a painful gap. That said, 12/31 gave decent sell signals before the 1/4 fiasco so that was just a matter of taking eyes off the ball. However, on 6/23 markets really looked quite healthy across the board.

If you kept a cool head, saw all kinds of pivot breaks along with VIX above the Q2P and realized it was time to scram, you had a chance to exit any longs near JunPs. In fact the JunP was near exact session high on DIA & YM, and ES too.

SPY, DIA and VIX below (SPY looks like a truly bad tick because on the 15 min chart the high is just under 207, not above 210 as shown below. However, DIA is accurate.)