, and is now headed for 35. Once it gets below that, it should (as it has n the past) drop quickly into the teens, at which point it will reverse and we should start a new rally. Once it gets below 35, I will start looking to load up on long positions.
I think we can safely say the market is now in the correction that it has been warning about for over two months. While the last few pullbacks were serious disappointments, this one looks like the real thing.
I will have the new highs update shortly.