Plan A failed as last week's red gap did not follow through. Now the plan B is for double top with bigger correction than plan A. The prices in SPY has been rsing in the past 4 days, but the MACD on the daily has been dead flat.
We'll have a green gap this morning above last months high, if no follow-up for the rest of the week, the MACD will confirm negative divergence. Also, today would be the fifth green day and a red day would be due, according to the price actions in the past 3 months.
It's painful holding the shorts (VXX TVIX SPXU TZA SDS SH), but I am staying the course.