The bearish impulsiveness of today’s plunge is palpable on the intraday charts (see inset), but it doesn’t quite inspire me to go out on a limb with a prediction for Wednesday. However, with a little more development, the presumably downtrending ABCs will become clear enough that we will be able to repeat yesterday’s ‘parlor trick’ in real time, nailing a swing high or low with sufficient precision to make it tradeable even using puts or calls. Many evidently did so on Tuesday, buying June 275 SPY calls at or near their 0.42 intraday low. They rose to 1.16 within hours, making it easy to double one’s money or better. It was also apparent that more than a few chat-roomers were already short from the previous day, in part because of the timely, unhedged bearishness of the Rick’s Picks home page. Stick around and we’ll try to make hay again in real time, possibly using options, as so many subscribers seem to prefer.______ UPDATE (June 20, 8:37 p.m.): The day’s histrionics failed to push above any ‘external’ peaks, even on the lowly 30-minute chart. It’ll take a print at 2780.50 to accomplish that, but it should be no sweat if there are even just a few nervous bears around. I don’t trust this rally, but we’ll go with the flow for now.