XOM inverse cup and handle

Seems to me, at this time, pretty much any larger holdings in the S&P are safe to buy an in the money or out of the money put contract(s). We are seeing a controlled correction instead of a complete dump. I am no financial advisor or analyst. XOM is one of my favorites to either support, or short. I am seeing a rather large cup and handle formation brewing here which should give is a definite answer to how close , or amount of correction we may see in the next few days. Good luck out there Guys and Gals.