Going into the final weekend in September, the market appears tenuous at best, on the verge of a major correction at worst. Below is a "close-only" line chart of the DJIA, another version of the chart posted in yesterday's PRO Update. DJIA Close-Only This version of the DJIA Daily chart shows a clear breakdown of the support trend line going back to the April, 2025 lows. Price has recovered back to the underside of the trend line and is now set-up for a deep dive that could challenge, or even take out, those same April lows. Taking out yesterday's low print, DJIA 45,785 will be all the confirmation we need to get even more aggressive on the downside. Seasonal tendencies and the break of a major support line are a dangerous combination in this business. Let's make the most of it. QQQ Hourly Short-Term Downside Positioning We rarely make this kind of speculative short-term downside bet. Nonetheless, if yesterday's (Sep 25) "Best Price" is exceeded over the next few days, consider it a trigger to double up on these positions. Starting Oct 1st, we will be looking to November expiration for any new options. (Who knows where the time goes?)
