The first chart is IWM from the second half of 2018, showing a steep drop of close to 30% from the Sep-Oct top into the late Dec low. IWM 2018-2019 IWM 2021-2022 A similar decline from the Nov IWM top will take IWM down 28% to about 176 and likely before January 21st 2022 option expiration. This would set the stage for the best TSLA buying opportunity in two years. S&P 4500 A break below SPX 4500 would be the first indication that a new leg down is gaining momentum. Below, the same analysis using the Dow 34000. A break below Friday's lows would spook the market into another tailspin. DJIA 34000 UVXY UVXY traded above 26 Friday before a late session market rally brought it back to close at 23.50. For the week, UVXY opened at 18.01 and closed at 23.50, an open-to-close gain of about 30%. The Fib projection chart projects UVXY to be in the 30's by year end. Coming up before Christmas is another FOMC meeting (Dec 14-15) and an important options expiration on Dec 17th. It will be a good two weeks for paying attention and positioning ourselves for the new year.
