3/17 Daily Commentary

XMI 1192 held.  Exposure to short stocks was increased since yesterday's close from 2.5% to 17.5%.  10% in DXD, 5% in SDS, 2.5% in SKF (wild and crazy financials).  I will increase to include short Nasdaq tomorrow on the break of 1184.35 XMI, when it comes. 
XMI came back to January high but did not exceed the nominal high:

Here is what I believe to be the correct short-term count for XMI:

The technical composite remains at -20, but the action of the last 2 days should extend it into unconditional sell territory once the momentum averages catch up.  I am considering the stock market on a sell signal pending tomorrow's data.  Although the I1 bottom day is at the close Friday, the recovery from that bottom to the next peak 4/2 is weak.  If the technical composite hits -24 I will keep up to 15% past Friday.