11/12 Summary WWW day sell off

WWW day ( Weird Wally Wednesday) refer to the Wednesday before OE week. This is the day normally sell off to kill calls before OE week.

If mkt close 850-860 area today, it is NOT a buy point, it is not a bottom! with USD/JPY keeps sliping, if SPX, DOW and USD/JPY close here now, Asia and European mkt could crash down 5% and make SPX gap down open below support.

There is NO bottom signals in place any means, be careful trying bottom fishing. Even day trade need quick hands. (see how spy rejected by 50ema in 5 min chart)

Also watch DOW, it is at S3 life support here, and many energy names in my list is hitting NEW LOW, this is not a good sign at all. Unless SPX close above 900, I will not even think about any mid-term long, not even swing long trade. Keep cash is OK and wait for bottoming signals and confirmations.

Also a reminder, even you expect Asia mkt go down, FXP is not a good buy because of its contents

Deflation and deleverging is continue going on, and failed to 5min chart positive divergence usually leads a bad close. and a bad close is not a buy long point. NDX and RUT is hitting new low of the day. TODAY is WWW as I kept saying. Waiting for tomorrow if you think long

Not worry about the sqeeze at all. mkt MM know what will happen tonight because of USD/JPY.