Trading plan today.

Bottom line, I believe we are very near the end of a wave 2 sucker's bounce and that all Hell is about to break loose in the markets.   Don't ask me what they will blame it on but whatever it is, you can (and should) basically ignore it lest you get the incorrect opinion that news drives the stock markets.  It doesn't.  In fact, it's really the wave count in the markets which indicates how any news that does come out will be taken by the herd.  The loudest gun going off near the herd is sometimes completely ignored while at other times a fly bites the herd leader on the ass and the whole herd is sent into a mindless stampede.  That's just how it works and it is not going to change (ever) because we are a herding species and these moves are built into our DNA.

Whatever plays out, I think it will finish today and then leave us with either an afternoon selloff that carries into the weekend and then picks up even more steam early next week OR which begins the selling tomorrow and then again accelerates the collapse into early next week.  The red green or blue models are what I give highest odds to.  They all have one thing in common: they eventually create a lower low than yesterday's low.  That is the clear signal to re-enter the short side: the break below yesterday's low in the markets which is to say above yesterday's high in TVIX of ~$3.80.   If my count is correct, TVIX should be pushing $8-$9 pretty quickly.

Being that I sold out @3.75 yesterday into the close, I hope we take the green path which would likely mean TVIX-> $2.70.  That would be awesome for another scoop  of shares with more money at lower prices.  Right in time for wave 3 down.

Well, time will tell if I will get that lucky but I will be zero surprised to see this retrace per the blue and then fall to a lower low.   That would be a set of own ears (my visualization of the a-b-c retracement which results in the declining double top shown by the blue model).  I will looking for another entry point today.