CHART SAYS DROP IN NEXT THREE DAYS

Watching the charts, I am very happy that I have some SPY put novembers ready to go. In looking at the chart below, I am now able to glean some pretty clear timing:

It looks like the market is going to drop and drop to the extent where we have a double bottom form.
Now for a lot of you, this might very well be a 'holy shit' moment. Maybe a few of your will get a margin call. Maybe yet more of you will sweat your 401K.
Don't panic sell. HOLD. As a matter of fact, add some more to your portfolio. But wait until we see what goes down and how far it actually dips.
The thing I am going to do over the next several days so I catch a good part of this will be puts in the morning and the afternoon, so I can micromanage this and squeeze as much money out of this drop as I can. Whenever I see big things coming? That means big money coming because its easy to contrarian trade volatility.
So what about the chart above? You can see overall, there is a stepping down in the QQQ if you look from left to right. Now look at the circled area with the arrow. See a pattern repeating? I do.
Most of all when this happens, DO NOT FREAK OUT and start selling into it.

Tradinginsider