Short termThe whipsaw zone we are in is starting to get tiring, but the good news is it's almost over. I have found over the years that the largest moves often have these tricky whipsaws right beforehand so we are going to need just a little more patience, but it will be well worth it imo.
The mkt is backed into a corner technically due to all these whipsaws and I see the following as the only way it can play out now. Tues, S&P tests 1176, with FAZ testing $12.65. Then the mkt should rally back to S&P 1201 with FAZ testing $11.90 probably Wed. Finally, then we will see this mini crash that I have been talking about forever kick off later this week. This 2nd leg up should take FAZ well over $14 very quickly and then a pullback with the 3rd leg up for FAZ topping around $15.90 early Dec.
After S&P tests 1201 then it should drop hard to 1130 very quickly with almost no bounces. Finally a bottom around S&P 1095 early Dec looks right.
As I already mentioned the supports are broken, and the mkt is just consolidating now before dropping further. These small moves can be traded, but need to make sure not to miss the large move that is coming.
SC