I am flat stocks, having sold in after-hours yesterday. The gold short is working. Gold has just completed a 5-wave down, so I'll have to add to the position on a rally to 1247-1250.
I have made money since the I1 bottom with judicious stock shorts after the initial rally and the short gold position. I needed to have tiny shorts at junctures where the risk of decline was greater in order to position for a potential fall according to the I1 longer hold rule. Now I can just focus on I1 direction and lead a less stressful life.
Stock futures had a bit of rally overnight with SP futures tapping off from their 30-minute M/A. Futures and cash have been 3-waving the past few days. I believe Minute 2 is finished. Also I'll put a short on if SP 30-minute M/A is violated by a 30-minute close less than .5% below. DJI cash critical support is the 5-minute, 380-unit M/A and the shorting moment is 1.35% below this. I'll be switching over to December futures in a couple of days.
Here is the gold chart with the 5-wave down not needing notation.
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