Just about a half hour ago I wrote to our subscribers that the then-morning's high at 91.11 in the UltraShort SPY (AMEX: SDS, Stock Forum) hit the lower side of my original target zone of 91.10 to 91.60 -- and that just above 91.90-92.00 the SDS would smack into a powerful near-term resistance line from the late October peak (late Oct. low in the SPYs). Hurdling that level argues that a new and powerful upleg commenced this morning at 84.25 -- that is heading for 116.00-118.00. (12:35 pm ET 91.13).