I increased my SDS position at the best price of the day. I went short SP futures last night at 1125.75. This brings me up to a level that I normally would only carry after the 5-minute, 380-unit M/A were broken. My current level is 32% SDS, 1% DJ futures, and 1% SP futures.
My trading discipline has 3 levels of positions:
a) I1 turn date. Put on 4%-8% double short ETFs and 1% futures shorts
b) Breaking the 30-minute M/A SP futures (which we did Wednesday). 15%-30% ETFs, 1% futures
c) Breaking the 5-minute, 380-unit M/A (the toughest nut to crack. 40% ETFs, 2% futures.
This support break has not occurred yet but will at DJI 10,560. Consequently, on the road I concluded that I should reduce exposure until this critical support is broken. I covered my SP futures at 1118.75.
The action today could be reflected in the SPX chart.
I count 5 down from Tuesday's high followed by today's upward correction, followed by an incomplete wave down. Lower prices are ahead. Signing off until the pre-open. No futures orders overnight.