I think the S+P 500 has peaked and is now rolling over. Click on the chart for a more detailed view. You can see the 5 wave patterns now heading downward whereas the a-b-c retracements are heading up. The waves are now full of declining double tops. This really looks like a tired rally and it is one that goes all the way back to 2009.
Time will tell. Note: VXX is at $48.43 which was about my buy point.
Tuesday, November 12, 2013
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