Since early January, a whole slew of DeMark 9′s and 13′s were completed on the S&P 500 (SPX), SPDR S&P 500 (SPY) and their related indices/ETFs. They are all history with the exception of the Nasdaq Composite (COMPQ) and the PowerShares QQQ (QQQ). Those are still currently in play. In hindsight and against my better judgement, I initiated short positions much too early. At the time, there was evidence an Elliott three wave ( See Jan 25 or Dec. 18 posts ) was just starting out. But a slew of DeMark indicators were popping up like Spring flowers that were too good to ignore and the market ignored them as well. This go around, a whole new set of DeMark clusters are beginning to pop again and this time, the wave construction looks complete making a pullback/correction ripe this week.
The SPX 1503 bull/bear line has been broken to the upside and the run on stops is propelling it higher. Judging by the bottom made by the VIX, and the sufficiently completed wave structure, bear relief is around the corner. Currently 40% short but inclined to press the shorts at some point between late today or tomorrow. (updated mid trading day)