Knowing what my job is keeps me from getting emotional. The market has double-topped. It does this when the trend is not quite ready to shift from up to down. That is what the 5-minute, 380-unit M/A is for. I've posted that this M/A is normally not cracked without 2-3 failed attempts. So far we have had 2. The rallies from these failures in the past tend to be sharp because in my thinking this M/A is a potent portent and a lot of money is committed on trend tests. The latest rally has reset our game clock concerning the 30-minute M/A. Now I have to reduce my exposure commensurate with the I1 turn date level, that is down to 10% SDS and 1% short futures. I'll accomplish this either on a decline from here (most probable outcome) or being stopped out.
Here again is a chart of critical support M/A:
Assuming DJI declines immediately it will not cross under 10,740 which means currently this support break will occur at 10,600 and move up until the M/A is crossed.
The 30-minute M/A SP futures is currently 1128 and will be broken on a 30-minute close .5% lower.