The Big Picture A weak open next week brings this wave count into effect and it would suggest the potential for a deep dive over the entire week. "If" is key here, but "if" it happens we will be on the look out for some index puts to trade what could unfold into an intermediate term decline. Anything less than a weak open (weak = triple digit Dow decline) keeps the big picture temporarily muddled. VXX This ties into the weak open thesis above, as a weak market on Monday will almost surely trigger a VXX Intermediate Term Buy Signal. We will be buying VXX December 18th out-of-the money calls with 100% or better targets. TMO There is a bullish side of the story and TMO looks to be an outstanding vehicle to trade any market strength in the weeks ahead. It almost triggered Long at the close on Friday, but fell shy of the $490 Buy threshold at the close. TMO continues to be in Buy Pending mode. PLTR Both the Premium and PRO Services are Long PLTR. Because it has just recently gone public there were not enough data bars to enter via our traditional trading set-ups, but there is enough trend to be screaming, "Buy me." We will watch this one carefully. So far so good, with the PRO Service calls up 276% and the Premium Service calls +75%. A good start for a data deprived chart.
