We have been looking for the start of the downwave for some days. In these cases you never know till later, but that is soon enough. Today we bought GLD and sold our Qs. It is possible this marks the top of the upwave for the market in general but we will not know that till later. See exaggerated volume 4-6 days ago as prices fell, right on the 200 day moving average and near the horizontal resistance line. Add to that the length and strength of the rally. We suspected and said so that the breakout looked like a bull trap. In fact we think the entire rally was a bull trap. But — hey — what a trap. Maximum alertness and agility now demanded.