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It's all a matter of perspective. If you fell asleep Sunday night and didn't wake up until after the market closed on Monday, you may have thought that not a lot had happened.  If, however, you read my report Monday morning , you saw that Oil had dropped 4% overnight.   CNBC and many other sources of information where lit up.  Was 'Oil dropping to the 20's again'? Was it 'a great time to go short'?  No, Cycle timing and the charts were pointing to possibly just a small pull back.  We are invested in Oil & Energy, so this was important.   This was our Oil chart in the report.

WTIC - Oil was early in the 2nd daily cycle, and the first one was R.T., so I expected more than just a day 6th high in this run. Maybe we would get a gap fill?

WTIC MONDAY -  Many ( Not here at Chartfreak) likely jumped in on the short side pre-market, but the shorts got overwhelmed.  This reversal did fill the gap and it did something else too...

Notice this important observation