3/9 noon

What a morning...Cisco was due to announce a new product at 11:00.  Sold QID at open at 18.10.  Sat on my hands until S&P hit its old high at 1141.  Bought DXD and a bit of SKF at that point.  At 10:56 bought QID to short Nasdaq. It was all done within 6 minutes of the announcement.  A new high > 2346 by the Composite will be the signal to exit QID. XMI>1172 will be the stop for the remainder of the short stock positions. This is its high yesterday.
Dow showed a beautiful ABC upward correction (notice the 2 sets of 5-waves):

The S&P is what I key off of for the true short-term trend.  The 15-min 54-unit M/A is key support and, until it is broken, the short-term trend is up.  However, I1 is down so the strategy is to sell on violent rallies.  Which we got this morning.  When the S&P trades .6% below this M/A that is short-term trend change.  It did not reach it this morning, which with Cisco announcing was enough to make me wait for the rally.

Finally, here is a chart of the XMI with it's 230-minute M/A.  Look at the downtrend.  This is where the big money goes, not into the speculative areas.  XMI flashed it's sell signal this morning by declining below 1164.2, which is .3% below the 230-min M/A.  Now I won't begin to get nervous until it rallies above 1169.30 to flash a buy signal.