I have been staring at the charts since the market closed an hour ago. It is a little foggy looking forward at the moment. The short term T.A. points down, which once out of it's system in a day or two should give way to a strong bull swing. However, we do have a lot of macro data coming at us tomorrow, with Fed minutes looming late. I hate news unknowns. The market is more predictable without late day note-worthy news. For now, I will probably continue to stalk XIV over SPY as it is outperforming it daily. Rather than go with buy points, I would like to see a little commitment from the market first. 

The only really bad scenario is if the 20 day falls below 139-ish crossing the 4 year lower rising wedge trend line, which could happen in as little as 5-7 trading days. If this happens with price below the 20 day EMA, then things could fall apart quickly. I still like my VIX charts from last week, which show serious potential for a VIX spike within about a month's time, but the focus was on December for a good bear pouncing.

Whatever choices you make for this next month, be careful. It is better to miss a couple good hits and not partake in a capitulation.





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