I am watching the $VIX here. Will it become overbought in a downtrend or actually cross the zero line and move higher. Second item of note is that the monthly SPX is right up against the upper BB. I don't see us rebounding much if at all because of that. Interest rates ridiculously low, but are moving up in what appears to be a meaningful move.
I bought some 2X Japan yesterday at RYDEX/Guggenhiem after the sell off Wed. I was quite happy when it was up 3% and then shaking my head when it was down 2% 2 hours later. I put that hot potatoe down today and leave it alone.
We are at potential trend line support for I Fund. I'm expecting a successful test of I Fund's price 100-day MA. See referenced chart this message is responding to.
Plus, looks to me the US dollar is starting a correction which should help I Fund stabilize.
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