Evidence of an imminent market top keeps mounting. On Saturday's "Weekend Update" I introduced my traders to the CNN Fear and Greed Index, a tradable sentiment gauge that has nailed every intermediate term top of 2022 and would have produced upwards of 10X gains in "next month" at-the-money puts on major market ETF's. The most recent signal came on August 16 with QQQ @ 334. It dropped to a low of 262 in the ensuing six weeks. This was not an exception, it was typical of market moves that sentiment extremes can generate and why monitoring gauges such as this are a useful tool in the trader's arsenal.
The signal is actionable next week and subscribers have the parameters in hand for a ETF put that has a 10X profit horizon based upon past performance of this indicator. The trade specifics are listed in the Weekend Update for Nov 19th.
The CNN Fear & Greed Index is not the only shot across the bow occurring in the equity markets right now. Below is the famous "S&P Oscillator" that is watched by a lot of Wall Street analysts and it too is suggesting the market is a lot closer to a top than a low, and in fact is forecasting a deep dive accelerating to a low in mid-to-late December:
SPX - Wave 3's at Multiple Degrees of Trend
Powerful move possible, probable, likely, but most of all: Not to be missed.
