Wow! Did I know today would be an absolute bloodbath when I wrote the last update at Thursday close? Of course not. But have I been stating "upside limited" for the last several weeks in various Total market view posts? Yes! (I'll collect all these statements soon and put them in a featured post, just like all my bullish comments 6/27+.)

Did these methods work to spot trouble? Yes again - I came in this morning to SPY and DIA below monthly pivots with VIX above its monthly pivot. When VIX confirms trouble I have learned to scram from longs first and ask questions later. And due to IWM yearly level, I took a hedging short on Wednesday close.* Nowhere to go with safe havens also coming down as well.

After boring everyone to tears, the market suddenly dropped off a cliff. Monday will be very interesting! Really, i have no idea - crash, down, sideways, bounce? I'll try to sort things out with all the charts coming soon on the blog!

SPY, VIX, XIV all below.

* True story