Despite a pretty good sell off from the peak so far, I do not see panic in the IBB, JWN or UVXY indicators. I still count the recent move on UVXY to be a 4th wave retracement which will likely retrace to at least center channel if not all the way down to the lower rail.
Don't fight the ticker!
Note: Either 5 clear waves up OR a break above $23 says that the panic is becoming real.
Thursday, March 12, 2015
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