I1 is rising rapidly until 3/25 so I must stay on the long side or flat until at least that date. The triangle interpretation holds true with DJ and SP futures respecting their 2/24 lows.
The 5th wave within triangles is frequently wild (as today).
DJ futures hit a low 2 points above the low on 2/24. I'll be buying 1% DJ futures this evening for 11,974 with a stop at 11,960.
SP futures hit a low 1/4 point below the 2/24 low. I don't believe in magic, but I do believe in support and resistance.
The 50-day M/A provided support today.
The dollar looks to have peaked short-term, so a stock market rally could be the flip side. The DX 90-minute M/A is potent and I've used penetrations of it in the past to predict extended rallies. The trigger is a 90-minute close .55% beyond the M/A. I sold the EUO at the close for 18.90 due to the proximity of this 90-minute M/A.
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