Following up on last week's SPY Alert, if Wave 3 is going to pick up momentum it will take out 372 first, then 362, as per the previous Wave 1 terminations shown on this chart. Breaking those pivots may be the last opportunity to load-up bearish positions before panic sets in and trading becomes treacherous. UVXY - Volatility still has not ignited as would be expected under the 'Wave 3 of 3 Down" scenario. Still time to explode upwards. Taking out last week's high @ 15.39 would be a significant break higher
