3/15 2:30

The shorting flash point is now SPX 1140.60.
To conclude the 1:30 I1 update,  the BIG picture is for a protracted bear market into May, 2015. 
The DJI high in January must hold in order for the wave count to remain intact.  S&P 1150 is a serious double-top and there are a ton of stops set beyond it. 
The positions that I put on or take off via stops are NOTHING in the scope of the expected decline.  The stock market likes to flush out positions prior to an actual turn,  so until XMI breaks 1168 I still expect S&P 1150 to be re-tested and fail.   If we rally back to 1150 I will short a little more, but will not go to 15% short until the DJI hits 10,700 or higher.  Confirmation on the downside was indicated with the VIX>30 and DJI<10,440.