S+P 500 is right at the 61.8% fib and at or close to end of C wave.

I held TVIX overnight on Thursday because of the chart below.  I had forgotten that the markets were closed on Friday for Easter.  In any case, I'll sell TVIX and regroup if the S+P gains just 5 points from Thursday's close because it will invalidate my model.  I'm not holding anything unless I can make a case for why the deck is stacked in my favor.

But until I get stopped out, I rather like this setup.  It's not perfect in terms of wave formation but I can put in a count that shows 5 waves down and then a vee style "buy the dip because that strategy never fails" a-b-c wave back up to the 61.8 fib.  The ending diagonal has broken down lower support after a weak (surprising weak) throw over of the top rail.  Unless it can break back up into the channel it should accelerate to the downside in the AM.  Time will tell but I very little because of tight stops on this one.