S2 Option Trader

[SyndicateTwo]

Nice reversal setup today. Looks like a pullback coming which could be bigger than most expect. If I'm correct, and this is a 5th wave top, we're going to see a large 50% ABC pullback which could take the SPX to at least 900 to 940. After that, who knows.

My take is that the TZA will rise to at least a double for us near $14 to $15. Now if the market does what I think it could do as all this imbalance corrects itself (10year breaking over 4%, oil running north of $90, stocks pulling back on liquidity removal of Fed) then $20 could happen within a year. The Russell doing a 50% pullback here most likely will take it to about 540 or 550.