History Being Made

[EDIT: Looks like a capitulation washout will be coming soon, at least from here.]

I am not going to comment on the historic nature of tonight as you can see that everywhere you look. However, it does mean a washout of a capitulation could be near which would mean going long. If you see a high VIX (30 - 35) with the Dow at 500 in the negative, it may be time to go long. There will be indications, however, so I would not recommend trying to get too fancy.

What it probably does mean to me is that my pattern studies will more than likely not play out. I had a few others to add to my SPY below, but I will refrain for now. It will be important to gauge tomorrow's movement to see what new patterns might be emerging.

As always, risk management is priority. Unfortunately, I exited all my short positions on Friday based on stops and the like, and I did not like the risk of a short position going into this weekend. But I am not fretting too much as a great opportunity should come soon to move counter-trend for the intermediate term.

Floor Pivots for tomorrow:

	SPY	QQQQ	IWM	DIA
R2:	127.76	44.16	73.24	116.04
R1:	126.92	43.79	72.75	115.42
PP:	125.38	43.35	71.89	114.21
S1:	124.54	42.98	71.40	113.59
S2:	123.00	42.54	70.54	112.38

	XLB	XLE	XLF
R2:	39.29	70.45	21.89
R1:	38.69	69.69	21.52
PP:	37.70	68.22	21.15
S1:	37.10	67.46	20.78
S2:	36.11	65.99	20.41