T/A ETF AND INDEX

[POKERSAM]

Two - There is no doubt that the markets are in a rising wedge which is coming to an obvious end. I do not agree with McHugh's count however our IT conclusions agree.

He says, "We are now in a high risk zone for long positions. Wave (C ) down can start at any time, or delay for several weeks while (B) up finishes."

He is reluctant to call the top in and I am not. If the top can be in based on an acceptable count and supported by TA indicators I will call it. In the past I have recommended straddles as a way to play it due to the higher possibility of going higher. Right now I am totally in puts.