While we continue to believe the market will roll over from here and head south fast, there are concerning signs with the number of bears.
http://www.cnbc.com/id/38168490
In third waves however, you can allow for a majority to be alined in the same direction for a while. This of course leads to a majority of bearish conviction which in turn will create a buying opportunity. We just feel at this point that it will be from a lower level.
Any sustained move above this current 1080/1090 level could signal the low is in place.
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