1/13 Daily Commentary

I don't like being long stocks, but I balanced my position using crude short and long dollar which have their own elliott wave and sentiment gauge justification.  Currently long 6% SSO with a stop at DJI 11,708 and a stop computed 1.35% lower, 11,550.  Since I'm loaded up with positions to offset the long stocks I am not entering short precious metals.

DJI came down to the top of wave 1 then 3-waved up and down to a nominal lower low before rallying in wave 5.
The dollar came down to within the prior lesser-degree wave 2 span before finding what I believe to be the bottom.  I have a stop at 79.27.