9/2 Daily Commentary

No trades today.  I'm adopting EWI's wave count as of yesterday when DJI exceeded 10,200.  Their count will stand unless DJI exceeds 10,500. 

As far as the advance off of the Minute 1 low, I count we are in the finishing up the sub-micro3 of micro5 of c. 

The above count should finish the c wave above 10,350 and with 10,500 the maximum to be allowed under this count I can short even with a mildly rising I1 with limited risk.  The rub, of course, is that I1 is rising as of tomorrow.  It's peak is 3.249 on 9/10.  This level, according to the longer hold rules of I1, is OK to hold a small short point.  Anything under 3.25 is OK for longer holding shorts.