I count 3 down in SPX and DJI. DJI has not broken critical support and I1 is up. If DJI breaks 11,793 then we will have a new ballgame, but until then I have to play the bull side.
Monday, January 31, 2011
1/31 Daily Commentary
The fear factor was removed from the markets today. I sold 2% SSO at 50.16 when SP futures hit their 30-minute M/A to bring me down to 2%.
I count 3 down in SPX and DJI. DJI has not broken critical support and I1 is up. If DJI breaks 11,793 then we will have a new ballgame, but until then I have to play the bull side.
I bought 1% DX futures at 77.89 but the dollar is not behaving like it's ready to rally. I sold this position at 77.87. Instead I'll use M/A violation to enter long. The green line +.48%.
I'm still holding 2% EUO short Euro.
I count 3 down in SPX and DJI. DJI has not broken critical support and I1 is up. If DJI breaks 11,793 then we will have a new ballgame, but until then I have to play the bull side.
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Steve -
ReplyDeleteI was graphing I1 in Excel and wanted to check if I'm using the right terms. In the 1/19 Daily Commentary you have a list of numbers, including:
1/28/11 - 26.78996
1/31/11 - 27.08342
Are these called 'raw I1' values? In 'Intro and Concepts' it looks like an I1 of 5 is pretty high, so should we be looking at deltas between these raw I1's? And would that make today's I1 value the difference between them (.29346)?
Thanks! Mark
I divide the raw by 10 to calibrate I1.
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