Holding bearish position via SDS at 15.17 with stop 14.69.
The 26 and 39 week cycles have presumably topped, and the 78 week will indicate a top if/when the trendline parallel to the MA97 is breached. Most observers would consider 136 SPY to be an important low, and a break below that would put us on the way to the June lows, and possibly beyond.
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