3/3 Daily Commentary

I bought another 4% SDS at 21.29 today and shorted 1% NQ futures at 2358.  I'll short another 1% NQ at 4 points below the 15-minute M/A (grey line).

The trend was up all day to the close, anticipating a positive jobs report.  However, DJI was not able to break it's critical resistance M/A, which will only be broken by a rally beyond 12,294.  So the market came within 11 points.  Tomorrow is the jobs report and the market has discounted a very good number. 

Even though this critical M/A is based on cash DJI if YM futures exceed 12,280 overnight I'll back out of 1% NQ futures, assuming I get a fill on weakness.