All indications are that the market has turned down and is just beginning a precipitous decline toward a crash window low sometime between September-November, 2023. The four key market indices are all on Trend Model Sell Signals and the Elliott Wave based pattern recognition structure is poised for a relentless and at times news-driven stock market panic. That may sound more dramatic than it turns out to be, or, it might be spot-on. At this point, I'd call those odds 50-50, i.e., a 50-50 chance of a stock market panic in the next 60-90 days. Unless and until our Trend Models or the EW structure changes, we are all in on the short side. CHARTS DJI A break below Friday's low print - 34,263 - triggers acceleration down. SPY 100 SPY pts possible into fall lows, either all at once or dragged out over 2-3 months. QQQ As this QQQ debacle unfolds it will take TSLA to the last great buying opportunity of the decade, $200 more or less. The lower it falls, the faster it will rise. IWM Wave 3 of (3) ongoing - leading the pack down VIX Mid 30's - only the beginning as volatility has a lot of catching up to do. 10X on calls - doable and more. SCORECARD - Premium Service Recent Trades Trade Management We will be rolling into new strikes as these positions become deep-in-the-money. Quote of the Weekend "Most of the stock market's biggest declines have come in September-October, and the high level of bullishness in evidence this summer is an ideal setup for weakness during that period here in 2023. Crash potential from here is very high." Robert Prechter, The Elliott Wave Theorist (Aug 18, 2023)
