Currently short 4% SP Sep futures, long 3% SDS, long 5% TLT. It looks like the market is ready for the next leg down. Here is the 10-minute futures M/A which guides a short-term trending market:
The next larger unit of trend is the 30-minute:
Wednesday, June 23, 2010
6/23 Daily Commentary
Reclassified wave count to correspond with Nasdaq and SPX as 4th wave down complete. I bought 3% SDS after the close at 33.75. The stock market missed my shorting point on the rally of 10,274. The DJI fell beyond the outer range 1.2%, thus issuing a sell signal. Here is the lastest count:
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