Hmmm. S+P is following the backlink model reasonably well. It suggests that the selloff that is coming might get a very deep vee retracement to bounce back up near or even above W3. One step at a time though. It looks like 5 of WC is within a few days of arriving. As usual, the break down back into the channel following the initial break out the top would be the UVXY buy signal.
Wednesday, February 18, 2015
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