SPX appears to have not only broken its Ending Diagonal trendline, but also the horizontal supports, as well. Yesterday’s high at 10:45 at 2039.12 appears to be the Primary Cycle high.

We appear to be headed for a high probability low on Oct 30. It may stretch into the following week, but indications are ideal for a low next Friday, with the probability of Congress and the Senate agreeing to kick the can that weekend.

There is no signal yet, other than the aggressive buy that I had given last Friday. We are nearing breakeven again on that position.

VIX finally turned positive, after making a new low today. It is noteworthy that yesterday’s lows in the VIX ETFs held. VIX still has some rallying to do before it is on a buy signal.

TNX is declining impulsively again. There is a lot of “flow” into treasuries today, despite the relative calm in stocks so far.

All the best,

Regards,

Tony

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