Flipped long into XIV at the end of the trading day

5 rail bumps down into an ending diagonal with a throw under right to the 61.8% fib seems like a good setup for a C wave bounce on XIV.  This model supports my other "sucker's bounce coming" models as well.  I'll be quick to bail on my new XIV position if the market isn't up strongly from the open.  There is a lot of pent up "buy the dips" out there who don't realize that the bull market is likely over. 

Or maybe I'm the dip.  It could still go either way although I like my odds.  But I have to be clear, these models are not confirmed.  They have been working well and that is nice but I need confirmation as explained in some of my other recent posts before I can be comfortable with them.  Of course, if you wait for that to happen then you limit both your risk and your reward.  We won't have to wait long before finding out.