SPX has risen back into its 61.8% reversal window, this time measured from two different levels of retracement. Bottom line is that it is in an area where it should reverse lower, sooner rather than later. The most bullish interpretation of the price pattern is still for one more steep decline as a Wave 5. The geopolitical forces, both up and down, are playing havoc with our trading, but the dominant trend is down with multitudes of gain potential. Both UVXY and VXX are still in dominant uptrends.
