This Is The End

Alright, this is it, folks – we are down 20 handles on the S&P 500. Grab your survival gear and head to your underground bunkers as we are headed for a disaster of biblical proportions. We are facing the wrath of God type stuff. Fire and brimstone coming down from the skies. Rivers and seas boiling! Forty years of darkness – earthquakes, volcanoes, the dead rising from the grave! Human sacrifice, dogs and cats living together. You get the point?

Sorry, I’m just trying to get into the spirit of things as, judging by the usual suspects (ZeroEdge et al.) this is the end of days. You know – triple quadruple bypass Hindenburg Omens, flash crashes, the works.

Alright, let’s settle down and be serious for a moment. Obviously this is pure fuckery, judging by what I saw on the Forex side – here’s the GBP/JPY which is not confirming whatsoever. But honestly it was about time we got a nice red candle as this trading range of the past two weeks was getting preeetttty boring.

I hope this shakes out hard and trims some much accumulated fat – we could use a good buying opportunity. After all most of you guys missed out on the first one a month ago 😉

Speaking of which – for my longs today truly spelled the end but courtesy of a brand spanking new spike low it happened almost exactly at the 13R mark @ 2060. Which officially ranks this campaign as one of my all time winners – including an almost perfect entry and exit. I wish they all went like this!

Now the week is still young, so I won’t attribute too much meaning to the current NLSL breach. However I think it’s very much possible we drop a bit further to 2045 and then rest there for a while. If that does not hold then 2020 is probably baked in. This would be actually my preference, so let’s see if she can get there. Right here and now I’m not too eager to grab longs.

Since the tape is pretty treacherous today I only produced one single setup – and I got to keep that one for my intrepid subs:

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Words To The Wise: Don’t get caught up in the hype when you see fast moves to the downside. The more shrill the reporting on the ZeroEdge feed the more it wets my appetite for blood. Remember, you can’t be successful doing whatever everyone else is doing. Keep it frosty and wait for a solid opportunity to strike – but for now we wait and let things settle down a bit.

Cheers,