Tuesday, July 5, 2011

7/5 6:10am

Last Friday I got the go-ahead to short the stock market.  Currently we have 6%SDS, 4%DXD, 1%UCPIX (a long-term core), and 3% EUO.
SP, NQ, and DJ futures have broken their trend channels and are declining to support M/As.

NQ futures 15-minute, 86-unit M/A indicates 2353.25 as the break point.  I have a short order at this level on a stop. SP futures 30-minute, 92-minute M/A is at 1330.75 and the break point is 1324.

The SP futures M/A should provide temporary support.

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