Markets bottomed this morningI'm 100% sure. The chart that nobody is noticing right now is the weekly S&P. Take a look back to 2008. We are in a multi-year triangle. Support tested this morning and held firm. Next we test the top of the triangle which is where my Sept target of 1160 S&P comes in. This target also confirms with my other studies. Everything is lined up with no mixed signals imo. For FAS $30 to $32 max.
Everyone is focused on the very short term charts right now. It's time to take a step back and focus on the big picture - the weekly chart. In a way mkts are battling between the short term and long term pictures.
Between now and Monday, I believe mkts will gap up in a huge way, and continue to rally strong from there for weeks.
This is the last chance to unload FAZ and either sit in cash, or load up on FAS imo. Now remember when the mkt rallies hard DO NOT listen to the media or the masses. They will all be exclaiming "new bull mkt" at the top. If one buys FAS here, then have to sell once it rallies and move back into FAZ!!!
SC