The S&P is about to run out of steam! I think we are about to see another triangle form, with the top around $2250, followed by a drop to 1550. Once I nail this call my buddy will owe me $1,000 and will be encouraging me to join a hedge fund in NY. This is just for the record.
Based on the way the UVXY has been trading as of late, it looks like it will maintain this current range (lime green lines) for a little longer. One more move up between $35-36 then it will meet the top of the current trend (green line) as it crosses the longer term downtrend that has held since 10/16/2013 (red line). I really don't think the red line will be...
