Bounce?....LOLOLOL...You call that a bounce? But yes, I agree with the assessment. Taking profits probably tomorrow in TZA, DTO, DRY. Looking to enter TNA, maybe DRX, and maybe precious metals.

Dollar is within spitting distance of 50dMA (76.83) which it has failed to break since March. I think it fails here, retraces and then punches through on next attempt. McClellan at lowest levels since March. VIX is near levels where it failed in Sept and Oct. Note H&S forming in the 500. Neckline ~1025. RS ~ 1070-1075. Have to see how market reacts to GDP .....GS has revised estimates to 2.75%...from 3%.....