Close to or have finished step “2”…

nugt

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And remember,
Stay objective…
vix
VIX Update
By: Marty Chenard | Wed, Aug 10, 2016 Share
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The chart below is from yesterday’s close and it show’s the VIX (Volatility Index) back to early 2014.
If you look at the chart, the VIX has a long term support line that it is finally testing.
Remember … that a higher VIX equals a lower market since they are inverse to each other. Therein comes the risk for you, so please keep an eye on the VIX.