Yesterday we shorted bonds based on a Wave 5 Sell Signal. Bonds are down today, following through on that signal. As shown in the chart below, we are seeing the same set-up in the Dow. A breakdown through the Wave 4 channel, currently at about 24,500 provides an excellent opportunity to add to or initiate new short positions via SPY puts (Jun $265p), or inverse ETF's (TZA, SDS, QID).
More in tomorrow's Weekend Update.
