These two stock market indices are marking just how dangerous this market is to a waterfall decline. SPY Daily The breakdown Monday has now put the bottom trend channel up from the Aug 5th low in the bullseye. Below that, waterfall decline, although by the time price reaches that level it will seem already so. If it makes it there this week, look for that August low @ 510 to be tested next. Folks, that's almost 100 S&P points lower! IWM 2hr Our short position, consisting of IWM puts and SQQQ calls. bought late Friday (Into The Close) is already up enough to move stops up as per the performance table below: Up next: Mid-Week Update out tomorrow, just before NVDA earnings after the close. Good news or bad, market action Thursday and Friday will set the stage going into March and into the 2nd quarter of the year.
