Here is a post from yesterday’s mid-week update. I closed out my final long UPRO (3x long SPX) on Tuesday as my Time & Price cycle work indicates we should be nearing a short term cycle top. My UPRO and ERX long trades netted $3,200 in profit and I may take short positions into the next TCL sometime over the next 2 weeks (We still need to see a close below the 10ma to confirm that we are moving into a TCL #1 low).

Based on the bullish price action during Daily or Trading Cycle #1 (with a 27 Day Top), I am expecting a drop into a short term Trading Cycle Low (TCL) next which should be a higher low. As long as we form a higher low than late December, I plan to take long positions again for the next upside move which I expect to re-test last Octobers ATH with a minimum SPX target of 2850 to 2900 at the very least.