These updates have repeatedly pointed out that the market taking out the October 29 lows will set off a severe negative reaction in stock prices that will lead to a market panic. Between the breaking of those lows and the end of the market panic there should be several opportunities to enter new shorts upon steep but brief counter-trend rallies. Expect the entire cycle to extend into 2019. While it's still possible that those lows will hold and the worst case that I have been harping on for the past month will not come to pass, that contingency is dwarfed by the opportunity presented by a bona fide market meltdown.
Below are the relevant charts. Memorize those October 29th price lows.
S&P 500 (SPY)
Nasdaq 100 (QQQ)
Russell 2000 (IWM)
