Ok, I have 5 waves down from the top and today finishing a wave 2. A bear flag was also traced out at EOD.
VIX worries me a little as it opened near the 20ma and closed away from it. I would have been happier if we closed aboved the 20ma.
VIX:VXV still signalling a sell.Well we did move up slightly and then turned over today as I thought. If this is truly the start of P3 we should see a strong gap down and continuation tomorrow, if not, then I would consider this a correction and likely a higher high in the future. So basically get out of any shorts if we go above 111.5.
