11/12 Daily Commentary

The turn in sentiment was first in the dollar,  then in commodities,  then in stocks.  This week I made good money in long dollar,  then in short silver (still holding) and short crude,  then going short the SPX via SDS.  I1 peaked 11/5 and the dominos started falling. 
The ability of the DJI to trade beneath 11,210 is very important.  This is the first time in several months that this has occurred.  The close below this level is also important to me.  I played it safe taking profits at SPX 1194.60 and carried only 2% SDS into the close.   I increased the exposure to 4% after hours at 26.57.  My best interpretation is that another decline to SPX 1191 is probable before the 5 down is complete.
I believe the dollar needs to decline marginally below 77.83 and I'll put in an order Sunday at 77.82 buying it.  This view of the dollar has shaded my opinion of the stock market in that there may be more upward correction Sunday night in the stock index futures.
Silver has broken down out of a descending triangle with a couple dollars more decline ahead.
I covered crude on what I suspect is the completion of a 5 down.  If it rallies 3 up I'll sell again.

Have a great weekend!