the former alternative, now primary scenario seems to be playing out so far but the odds of T1 being hit soon will greatly increase if/when tuesday’s lows in all the primary indices are taken out. i did add to my shorts today and stopped out of the FLSR long/hedge as the fact that the AAPL short triggered today also helps strengthen the case that the markets will see more downside in the near-term. updated SPY 60 min below.
