I bought the [[SDS]] today at $50.05 since the price went lower on lighter volume - this is just a classic pullback. The SDS is testing the lower trend line and may go to 54.80 before going up. The SDS is 200% the inverse of the price movement of the S&P 500.

I am bearish on the overall S&P which went higher today on lighter volume which is bearish. Just look at what happened on 9/4 where the price hit a high of $149.98 then fell down. Price broke out of the red down trend line but will fall back in since there is no support.

The SDS chart below is the inverse of the one above. My first target is 58.00 and the second at $60.50 where there is big resistance. I am making this trade ahead of the Sept 18th Fed announcement which I think will bring the market down. I will keep my stops tight somewhere around $54.