On Friday we sent out two trades, UVXY Calls and QQQ puts. Both are doing well in what is the early stages of an intermediate term reversal back down in the stock market. With four weeks to go until expiration both these positions have a lot further to go: In addition, there are new Intermediate Term positions coming through the Premium Service which can be considered add-on's for PRO Subscribers. This was sent out late Friday: We expect a VXX Intermediate Term Buy Signal to be triggered in the next few days, as well as Intermediate Term Sells in QQQ and SPY. One characteristic of Wave 3's that has been absent so far in 2022 can be described as, "relentless follow-through." If the the market can can build on its own downward momentum it will act as a self-confirming prophecy for a historic leg down in asset values, including Bitcoin which acts mostly like just another Nasdaq high flyer. We aren't seeing that quite yet and so far VXX is lagging in the volatility indices. So far so good for our new positions, but much more is expected. Friday is Fed Chairman Powell's Jackson Hole speech - look for it to be a catalyst, one way or another, for prices going into mid-September. Below is a chart from last year, same time, same place, same man. What is different is that last year the market was still in a bull market, this year, it is on the precipice of Wave 3 down. Last year knocked the Dow down 2,000 points in the weeks that followed. This year?
