Week of October 30

Bearish breakdown of major support...

Recap of last week:

My analysis last week was spot on. I was among the few calling for further bearish excursion below support, while more naive market participants threw the kitchen sink at tech calls for earnings season and got destroyed.

Besides a very weak early week dead cat bounce courtesy of Bill Ackman, market pretty much traded bidless through out the entire week. I generally am very discerning for shorts, so didn’t press them here, but if you took any puts or short futures you made a killing this past week. If you have traded long enough, you know just not being heavily exposed long during this widow maker downside weeks is a huge win. Hope you guys managed your positions last weekend before the carnage…

Now onto next week, has the selling come to a close?

Next move for markets?