If my calculations are correct today – 9 Aug 2012 – should be the SP500 top
of this upleg.
SPX Sell Off Will Happen When Short Covering Spikes Finish.
Another risk off warning: NZDUSD daily chart shows bearish megaphone wedge.
Warning of next leg down: SPX 8 hour chart reverts to bearish chop.
Stockbears, be prepared to put on your polka dot shorts in next few days
as impending sell off awaits.
Equity sell off will happen once all shorters have been burnt – resulting
in less short covering spikes.