I'm waiting for a minor bounce to short in ARCA. The wave count is extending with the new low at close. I bought 2% SDS at 36.74 on ARCA. I1 double-bottoms today and tomorrow (2.60 vs 2.57 tomorrow), so I expect a low around mid-day instead of at the close.
Target is XMI 1082.
If SPX does not decline beneath 1040.78 tomorrow then the decline from Thursday is still part of wave 2 and more counter-trend rally will develop to finish wave 2.
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