New highs early in the session were followed by a gradual slow meltdown for the remainder of the day leaving the VIX 6.5 % up the major indices closed basically neutral.
Friday's surge was a hard act to follow and with all the markets at long term resistance the technical odds favor a pullback. Refer to the Ponzo charts posted last week to get a flavor for possible near term scenarios. The elections tomorrow may further roil the markets so we're in a wait and see mode.
We stopped out of UPRO today on a special intraday update for no loss.
XIV is failing to gain traction and has been kicked from the M3 roster at today's close.