SPX had an inside day on Friday right after an outside day. That is actually quite common. What is not common is, before the outside day SPX aso had an inside day. Thus SPX has done a inside , outside , inside dance. That is very rare. Since 1962 there has only been 18 such occurrences in 12,273 days. the above table gives a pretty good picture of how this IOI folds out between 1st day, 3rd day, and the 10th ,20th and 30th day after 3rd day. I calculated the plus and minus from the 3rd day, for only on the 3rd day I would know if it is a IOI or not. More often than not inside days are pauses before continuing the trend from previous day in the current case it would be negative. We had a DKOD across the board on the negative side after a very long time. All bear ETFs opened at the low of the day and all Bull ETFs opened at high of the day. This is also a negative for the market. With September turning out to be a positive and becoming the best month in the year people should get brave and jump in the market without fear and that is a negative. All the previously posted charts are still good and the resistance lines have the market from rallying outside the channels. Without a convincing conclusion a top has been reached I am content to go in and out of the market at the direction of my signals.
The chart is that of TZA and it could have made a bottom however a new lower low below 24.85 could mean big trouble. The 10/20 has turned bullish on TZA. With DKOD and the 10/20 I am not feeling bullish but I don't want to pick a bottom for I am so bad at it. I will wait and play the signals