Futures are off sharply after billionaire investor Michael Burry, of The Big Short fame, disclosed his purchase of five million put options on Palantir and one million put options on NVIDIA.

ES has reached our first downside target.

continued for members…

This puts ES back below its channel line breakout and Oct 8 highs which, as we have discussed for the past week, are/were important support. There are numerous

DXY has inched slightly higher, but the real test will come at the SMA200.

CL and RB are backing off their threatened breakouts for the 4th time.

While, TNX remains broken out above its purple TL, bumping up against its SMA50. A significant selloff should send it lower.

Stay tuned…