9/3 9:58

Shorted 1% DJ futures 10,440, stop 10,453

9/3 pre-open

I bought 3% SDS at 31.88 on jobs report rally.  Stop is  DJI cash 10,481

9/2 Daily Commentary

No trades today.  I'm adopting EWI's wave count as of yesterday when DJI exceeded 10,200.  Their count will stand unless DJI exceeds 10,500. 

As far as the advance off of the Minute 1 low, I count we are in the finishing up the sub-micro3 of micro5 of c. 

The above count should finish the c wave above 10,350 and with 10,500 the maximum to be allowed under this count I can short even with a mildly rising I1 with limited risk.  The rub, of course, is that I1 is rising as of tomorrow.  It's peak is 3.249 on 9/10.  This level, according to the longer hold rules of I1, is OK to hold a small short point.  Anything under 3.25 is OK for longer holding shorts.

9/2 pre-open

Yesterday or today was the I1 bottom.  The market took opportunity on the second re-test of SPX 1040 to rally.  I am looking for a short to hold for the day.  The DJ futures breaking 10,227 (currently) or reaching 10,348 will give me a shorting point.

9/1 Daily Commentary

The stock indices passed two milestones today. 
1) The abc from Friday's low can be counted as complete (or an extension ranging up to 10,350)
2) The rally surpassed critical resistance at 10,210

I sold 6% QID at 18.07 when DJI 10,210 was hit.
I1 bottoms tomorrow but obviously we have seen the low of this I1 cycle. The abc could be already complete but I have an order in to short DJ futures at 10,349