BBRY did touch its lower Bollinger on Friday, so it's due for a bounce, maybe another test of the $8 level before it continues its quest to worthlessness. Remember that BBRY has only entertainment value for us in Deflation Land, it's a proxy for laughing at that consummate douchebag in the Florida who is shutting down his blog, gee, one of these days.
These memes are addictive once you get started.
Charts, it's do or die for anything bullish now. My count still wants to see one more high, preferably in a couple of weeks around 2150-2156. FOMC the big mover this upcoming week.
After another high, then we want to see the ending-diagonal finally break down, hard and fast. UVXY ought to be at least a triple on this move if properly timed.
|SPX 07-24 daily|
This all leads, of course, to a fight over the 1820 SPX level that resolves itself as it should, with a complete meltdown of the equity markets and return to the trendline between the 2002 and 2009 lows. These are the FAS-157 chickens coming home to roost.