As of an hour after the Open today, both IWM and QQQ are trading below their respective key levels confirming third wave declines at multiple degrees of trend. If still waiting to add-on to short positions, the final confirmation will be a close below same levels. I expect a multi-thousand point down day in the DJI during this decline. Whether or not it happens before December expiration is less certain. That is why if already well covered in Dec short positions, consider going out to Jan with any new positions. Key Closing Levels QQQ < 597.18 (Currently @ 593.25); Target = 560-520 IWM < 233.27 (Currently @ 231.15); Target = 220-200 Bitcoin < 98,500 (Currently @ 92,140); Target = 75K-50K ----- Current PRO Service Short Positions Note: Based on a 112% "Best Return" as of this morning, I moved stop up to breakeven on SQQQ calls. It's ok to use 50% trailing stop going forward, but no matter what, retain a partial position into expiration, just in case. ----- Charts of The Day & Week DJI Daily A close below 46,000 on the Daily and Weekly charts targets April lows, about 25% and 10K DJI points beneath current levels. DJI Weekly
