Ultra Skew

Nice short-covering rally as to be expected by the high Arms reading Friday
(over 2 – maybe one more day of selling, then a rally)

Back above the 200MA, which is good too.

All good, but we have a very short arm on the T structure
And an ultra high reading on Skew

Be prepared for another big move… down

Chart of S&P500 for 29 June 2016

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