[S+P500] update

We did get a bit of selling into the close which was mentioned as being possible in the backlink, but LIKELY not enough to indicate that the wave is finished.  Thus we have to be aware of the potential for 2' to be the wave 2 peak.  This should play out fairly quickly and I will be picking up more UVXY in the 25's if we get 5 small waves up into red 5 tomorrow.  This would bring wave blue 2 up to the level that one would typically look for with a flat correction.  If this model is correct, a rapid sell off into blur 3 down will break the lower blue rail of this model "with gusto".

This is my primary model and other signs (like WMT warning) are beginning to pile up.  I expect that Intel will coincidentally break down the H+S neckline that has been documented in these pages for quite some time now.