I1 is down through 4/5. If SP futures have not broken their 30-minute M/A by the close tomorrow then I'll go flat. Currently on the buy signal, this M/A will flash sell on a 30-minute close .5% below it.
Thursday, March 31, 2011
3/31 Daily Commentary
Jobs report is tomorrow. Consensus is 185,000 and 9%. Going in with 4% SDS and 1% ZSL.
I1 is down through 4/5. If SP futures have not broken their 30-minute M/A by the close tomorrow then I'll go flat. Currently on the buy signal, this M/A will flash sell on a 30-minute close .5% below it.
The daily technical composite is dead neutral (0), but the weekly has declined below -12 which is an unqualified sell. The market is on borrowed time technically.
Meanwhile, industrial inflation presages shrinking profit margins worldwide as well as worldwide monetary tightening to head it off. Industrial prices have risen over the past 2 years at almost a record pace.
I have to stay short during the I1 down periods, but the odds favor a mid-May shorting opportunity.
I1 is down through 4/5. If SP futures have not broken their 30-minute M/A by the close tomorrow then I'll go flat. Currently on the buy signal, this M/A will flash sell on a 30-minute close .5% below it.
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