Paranoid, or Prescient?

As the three-day MLK weekend approaches this just happened in one of the global (non-MLK holiday observance) markets:

"No One Knows What’s Going On": Hong Kong Stocks Suddenly Plummet In "Avalanche" Of Flash Crashes

"Investors, and not just in Hong Kong, may want to get used to such liquidation confusion because what happened overnight in Hong Kong is just a harbinger of the mess that will hit every market once volatility explodes during the next crisis as liquidity collapses to zero while everyone demands to get out of the market 'right now.'"

I wake up at about 3:00 AM (MT) every night, just to check foreign markets on the CNBC App on my iPhone. A few times in the past year what I saw had me up for good, no way I could back to sleep with that kind of volatility front-running our own market open at 7:30 AM (MT). That brings me to the EW structure set-up that is suggesting a much faster and deeper leg down is about to befall our markets. Whether accurate or not, market crashes are always blamed on something and it is perhaps not so coincidental that the article quoted and linked above appears just two days before our holiday weekend. Paranoid, or prescient? 

Updated Trades-Pending

We covered Jan-Mar rollovers in Wednesday's Update. In conjuction with those recommendations here are trades pending for Thursday-Friday. If triggered, these will be "fresh" signals as opposed to simply rollovers. 

BIDU - Sell Signal below $162: Mar $165p

IWM - Sell Signal below $141: Mar $140p

MMM - Sell Signal below $188: Mar $185p

QQQ - Sell Signal below $155.50: Mar $155p (different put from rollover) 

USO - Sell Signal below $10.50: Mar $11p 

TLT - Buy Signal above $120.50: Mar $120c

Between the rollover ideas from Wednesday and the potential freshly triggered trades from this list, there are enough ideas to be at least partially and/or initially  positioned on the short side into Tuesday's US market open in case there is  a rough weekend ahead in global financial markets.