IBB

Double Headed H&S formation. Target on break out is about 200 expected around September 1st. Stop above the two heads. Allow for possible false break of channel as we enter high volatility period. Re-enter short on any re-test of broken neckline for likely lower target end of November. Am using LABD as trading vehicle which has a longer term target of 80.

Also, if you think oil will break down soon look at RUSS. I have a longer term target of 70 on this. Obviously small positions to begin with and take partial profits when appropriate (overbought/ negative divergence etc on the way).

Good luck