The big opportunity going into the final two weeks of the year, and the first three weeks of next year would be next Elliott Wave progression amounting to a Wave 3 down at multiple degrees of trend. The tip off would be relentless declines, day after day. More evidence is needed beyond just the first few hours of trading today, but so far so good. The other factor to watch is volatility, it should at some point be spiking higher, and do so day after day. UVXY calls will be the play there, but for now IWM, SPY and QQQ puts will do just fine, plus IYR on a break below $85.00. IYR Daily - Intermediate Term Trend Model Although this PRO Service is more shorter-term oriented, it doesn't mean a good longer term trade should be ignored, especially for an aggressive option way out of the money trade like described below. Because IYR isn't a flashy, nor volatile sector, options are priced accordingly, and March puts look dirt cheap to me. IYR was as low as $75.66 in October, down from a high of $116.89 (-35%) a year ago. That was Wave (1) down and suggests the target for the next leg down, Wave (3) will be under $60, maybe under $50. Another 35% decline would take IYR into the mid 50's. IYR Repeat Sell Signal Pending @ Close < $85.00 Option: Mar 17 $75P (0.87 - 0.97) Target: IYR < $60. $75P >$15.00 Stop: Trailing 50% from price high after entry (Risk 0.5 to make 15X+) NOTE: The Premium Service will also be buying March IYR puts on a break below $85 but its option trade will be much less aggressive. IWM IWM traded as low as 176.56 today. Any close under 175 should confirm that a Wave 3 of (3) is in progress forecasting much lower prices. It's 2022 low is 162.50 on October 13th and a close under 175 should take it well under 150 early next year. QQQ Each Key Level break is more bearish than the one above.
