Looking at the TrendX chart in the right side panel shows where we are vis-a-vis critical support. Technically the next leg should be up and there haven't been a lot of earnings report to derail that prognosis. That being said....we could could go anywhere at this point and once the markets get rolling we'll either see a return to SPY 200 or a collapse to the sub 180 levels....Sorry, not much help at this point.
M3 did a great job to catching the Monday 10% pump in VXX and hit the target exit stop today at 39.36, so the model is back in cash.
We continue to see an afternoon high volume accelerating meltdown in the markets and until that subsides the trend will remain in a negative mood. One day at a time and watch the stops.
