Today has been INSANE, but I think it marks the intermediate term bottom. I sold my $RUT puts (bought today, and sold intraday for excellent profits) and acquired SPX calls earlier.
The $RUT shows a superb example of head and shoulders in action. Specifically:
Neckline: 719.37 (low price on 5/23)
Top of Head: 763.27 (high price on 6/5)
Projected Target: 675.97
Low Price Today: 676.47 (close enough for me!)
In addition, USO seems to have given up its latest rally attempt. My puts are strongly oriented toward energy and agriculture, as you know.
