Stock market S&P top 1147.68 as per chart in mid-morning post. Stock market declining now. DJI -18, XMI -1, S&P still up +2. The dichotomy between tech and brick-and-mortar is glaring since the orthodox top on Friday. S&P, DJI, and XMI all made their orthodox tops then. Since then:
1) XMI made a nominal new high 9:35 Monday
2) DJI has made its orthodox high Friday at 10572, traced an ABC to 10587 Monday, and another ABC to 10,611 Tuesday.
3) SPX made its orthodox high Friday at 1139.40, traced an ABC to 1141 Monday, another ABC to 1145 Tuesday, and finally another ABC today at 1147.68. There was an expanded flat after that to a high of 1148.10.
Silver has been falling heavily with the stock market and last at 17.10 cash. We bought ZSL earlier at 4.08 and will add more at May futures < 17.03.
Our flash point for further stock short positions is S&P 1134.85.
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