Monday, April 12, 2010

4/12 Daily Commentary

Market almost unchanged today.  Back up to 10% short SDS.  Stock market completed it's XYZ upward with the breakout above the triangle, but the final wave was very short and I was not able to short on strength.  Instead I shorted at SPX 1166.


I marked the chart with the I1 sell signal (last Monday's close) through today and into tomorrow as the duration of this sell signal.  The market has made little upside progress.  The I1 value for tomorrow is almost identical to today's, so I am calling tomorrow the bottom day.

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