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Monday, December 2, 2019

Market Update 12/2/2019 - Cyber Monday

Dow 28k Day 3.

Market futures up as predicted in my twitter feed on Black Friday. Continue to watch the $VIX target I alerted to last week. That becomes the pivot.

$VIX gapped up exactly where I said it would, last week, and Friday, there wasn't a buyer to be found.
I think we've seen the top, but I suppose we could retest the highs one more time. The $VIX is sitting above support, but I suspect the powers that be will punch it back down, one more time.

The Micheal Bloomberg network is trying to blame this weakness on a Trump tweet, about replacing steel, and aluminum, tariffs, on Brazil, and Argentina, but Europe is actually leading the way down, on Political unrest in Germany. See: Merkel crisis: German leadership on brink as coalition cracks – 'cannot continue' -

The $DAX topped out about a week ago, and has been struggling ever since so US markets should not have traded to new highs, but manipulators gonna manipulate, this time of year.

I see a scenario in which Germany, and Canada, and others continue into a bearish wave 5, but this isn't a target I'm trading into, and if support breaks right here, stops are going to be taken out.

$SPY is looking very toppy here

Can't wait to see what the pullback looks like.

If the $SPX somehow manages to make a new high, it will probably coincide with the lower channel on this 3X leveraged $SPX bear ETF chart, around the $26 level. Maybe a little washout below there. This isn't the time to be complacent. 

Opening bell rang 3 minutes ago,
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