Updates for Thursday 10/22/20

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Below is a time-delayed excerpt from our live updates for members.

Updates 2:14 AM EST - Thursday 10/22/20

Summary
Bearish:   $SPX $NDX IWM may be heading towards a substantial drop.

UVXY $VIX $VXN
The charts of $VIX $VXN continue to show sideway contracted patterns.   So we have to rely on UVXY again to clarify the volatility situation.   

Currently UVXY is heading down towards the bottom of its channel.   This is short-term bullish for $SPX $NDX IWM.

But watch out for the scenario where UVXY drops just a bit, and then reverses back up sharply.  That would form an upward coiling pattern, and would be a highly bearish setup against $SPX $NDX IWM.

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