..and I just revised the first target on the DGAZ trade slightly lower in case /NG bounces off that 2.533 support level which it hit earlier & has traded on since.

..and it might reverse just shy as the comparable target on /NG (2.533) has now been hit, with decent odds for a reaction off that level. I discuss that in the first part of the video that I posted earlier today (after this post).

I don’t have an exact number for the marginal new high in SPY but we now already have one, with SPY hitting a high of 302.63 earlier today vs. the previous all-time high of 302.23 on July 26th. As such, my guess is that the market will (or already has) topped anywhere from today’s high up to about another 1-3% above that before the next correction sets in. Should that prove to be the case, any half-decent correction has the potential to trigger some more powerful, longer-term sell signals on the weekly & monthly charts with some very significant support levels not too far below. First things first, and that would be to see some decent evidence of a top such as some bearish candlesticks and breakdowns of some of the recently highlighted support levels on the indexes as well as the market-leading FAAMG stocks.

You’re right – my bad! I thought @rsotc said that we already reached the target.