Thursday, April 14, 2011

4/14 11:30

The stock market has been caught in a loop of exogenous events.  Looking at the chart I can see that the market bottomed in March (decline due to Japan quake/nuclear) when I1 exceeded +7.  I still think that next Tuesday will be a top day, but it will probably be lower than 1340 SPX.
As long as DJI was within the critical support envelope I wanted to be long.  Now that we are on the bearish side (under 12,227)  I want to keep my longs to 4% or less.  Currently flat.

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