Is it safe to go long for a short term trade this morning? Will the gap from yesterday's open fill? Read the notes in today's update if you are looking for either of these possibilities.

It is obvious that those who took the SELL SIGNAL on last week's double break below the six week support/trend line are going to have a good holiday.

We continue to see important techcnicals hit. Refer to the Updates which were published this past weekend if you are a longer term trader/investor. There are some critical tehcnicals occurring.

It should be no surprise to see about six weeks of profits (for those long the equity markets) gone in just a few trading hours. The trading range (and wave action) we saw during the recent period showed this potential.

Monday's action was no less critical. Read the analysis in the charts closely, especially the 15 minute SPY and QQQ charts. Remember markets do not 'usually' go straight down.

Also note the action in the VIX and Crude Oil. These two indexes have been critical over the past several months for also confirming guidance in the equities.

Note Triggers and Targets.

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