Still Short

This newer indicator, the 3C divergence depth indicator has been helpful recently, especially with timing.  The first very deep blue bars are the decline in early August, a very nasty decline. As you can see by the lines I drew, it's usually right at the peak of the 3C depth indicator that we actually top out and the decline starts after that, today we put in a new peak and this is why I am considering yesterday and today's action as part of the same top. It also is the deepest distribution we have seen since the August decline, so it implies we still have quite a move down to go still. I can't say I am comfortably short, but I have faith in 3C, I've been in too many tight spots and had it come through. I'll still be watching for any changes, but for now I'll remain short.