2. Now it makes sense again as the QE light implication for Sep 20th. is a misleading but still helpful trick to trigger the benign New Moon rally – wave 4 still in progress as the window dressers will squeeze the hell out of shorts now and with Apple breaking to the upside for another 400 test and top.
ISE MAs are at extreme ow levels supporting a brief rally with RYDEX Nova /Ursa at extreme levels as well. That tells me that we are in wave 4 of 3 and wave 5 of 3 is due around mid Sep. followed by a steeper rally from a lower level as the recent lows. Hence no QE at the 20th. Sep but the rally could last til Full Moon.
More on the targets on the WE