Happy hump-day one and all. Well, we can't say we're terribly surprised about today's market weakness. Stocks have been overbought and overvalued for a while now. Between that and the calendar, weakness should be expected. On the other hand, it's not like today's pullback did any real damage. All the indices remain above their critical support levels. The market will have to take on a lot more water before we get worried about the bigger picture. We're going to look at the good, the bad, and the ugly about the market below. The first thing we want to talk about today is the big news from Featured Stock Viva Entertainment Group (OTTV). Just as a quick refresher, Viva Entertainment Group is the creator of an internet-based television platform. It rents or leases access to the software to organizations looking to offer over-the-top television service but don't have the time or wherewithal to build the software needed to make it happen. Think of it as a Netflix or Hulu for hire, although that analogy still doesn't fully describe what the company offers. Its platform allows for streaming programs, on-demand, music, pay-per-view, and more. We'll put it like this -- Viva provides what most consumers and would-be television services have wanted from OTT all along. That is, choice. The service can be customized just about every way imaginable. Anyway, Viva Entertainment Group posted a shareholder update today. Some of it you knew about, and some of it you may not have realized. One of the things I was most surprised to learn is that Viva is looking to sell its own IPTV service in addition to leasing it out to other organizations. Something else I was surprised to learn (though in retrospect I shouldn't have been).... Oi2 Media doesn't appear to be its only client. You have to go to the company's new website and dig around to see it, but it's there. A group called FilmOn and another outfit called BeachTV are also partners with Viva. I honestly can't tell to what extent either outfit is using the Viva platform already; that's how seamless it is. I also still suspect Oi2 represents the biggest revenue opportunity for OTTV. But, the fact that three different organizations are already on board one way or another in spite of the fact that Viva has done next to no marketing or sales speaks volumes about where this is going. I'd encourage you to go to the website and find the FilmOn link. Check out what's available, some for free, and some requiring a nominal subscription. It becomes pretty clear very quickly this is a real threat not just to cable television companies, but also to services like Netflix and Sling TV. Here's today's letter to shareholders. In any case, I suppose I can tell you this now without ruffling too many feathers.... John Monroe over at the Elite Opportunity Pro saw this weakness (today was one of the worst days for stocks in weeks) coming a mile away. Moreover, he did something about it. First things first though. Check out this snippet from the July 22nd edition of the EO Pro: "For now, if you're short the major indices, just make sure you use your entry as your SSL. If you've yet to get short, you can always wait for 2,185 on the S&P 500. If you're long the major indices, just make sure you move your SSL's way up, because we're assuming next week is going to be very definitive for the near-term landscape of the markets." This is what John said on July 8th: "... considering the index is now right back up against making a new all-time high soon, that February low was the ultimate catapult move, and with that, our expansion levels suggest at least a move to roughly 2,185 before it's all said and done." This is part of the August 1st Elite Opportunity newsletter: "With all of this being said, it's no secret many of you know we've been eyeing our target of 2,185 on the S&P 500 for quite some time. Although we've yet to quite achieve that level, I think at this point it's pretty safe to assume we're almost there. And, with August historically being one of the worst months for stocks, I don't think it's a coincidence many other technical stars continue to align around current levels suggesting the markets could reverse themselves as soon as this week." Now, care to guess what happened on Monday of this week? The S&P 500 hit a high of 2185.44. On Tuesday it reached a peak of 2187.66 before peeling back to a close of 2181.74. Today, the bears took a pretty good poke. Coincidence? Doubtful. Now, to be clear, it's not like the S&P 500 is completely unraveling as of today. It found support at the 20-day moving average line and the bulls started to test the waters again. As we've said before though, rolling over is a process more often than an event. It could take a few days for the bears to do enough damage to the market to get the ball rolling. Here's the thing... every day you wait to pull the trigger on a trade leaves you well behind. No risk, no reward, you know? The bulk of the gains you'll make on any trade are ultimately won early on. You have to "set up" the big profits reaped later in the life of a trade by being in the trade at a point in time when it's a little uncomfortable. That's where and why being right about a trade separates the men from the boys. John's usually right. So far he's been spot-on about the S&P 500's touch of 2185. It's freakish, actually. I will tell you John has entered a trade based on all the stuff we just discussed about the way the S&P 500 touched on his target level of 2185. I can't tell you what that trade is. I can't even give you the context or projected target for that trade, or where the stop-loss is. I can only tell you the risk/reward scenario is very compelling, and that it's not too late to tap into the suggestion. It matters too. It's not just about being right. It's about knowing the best way to make a play on the call... minimizing risk and maximizing the reward. And, considering the Elite Opportunity Pro newsletter has nailed about four other major pivot points for the market this year, I'd recommend seeing what John's got to say this fifth time around.