3/9 Daily Commentary

I bought 1% EUO at 18.58 near the close.  I'm holding 4% SSO and 2% TLT.  I sold 2% TLT just prior to a 50cent rally. Ugh, but still made a little money.
I've isolated 2 events that will signal directional breakout of the triangle besides the trendlines.
First is the 90-minute M/A SP futures (blue line) which has an envelope of 1.25%.  That computes to 1316.03 (currently) + .5% = 1332.48. 

Second is that old standby DJI 5-minute, 370-unit M/A which resolves to 12,288 - 12,305 as the breakout threshold.
The SPX 50-day is coming up to the market and tomorrow will be at 1301.25.  This underscores the recent low at 1287.57 as critical for the 4th triangle wave count.
Technically the stock market is moving toward a weekly sell signal with a -11 composite (blue line) versus a bell-ringer -16, which is what I expect given an I1 peak in excess of +8.

 
The daily composite has yet to issue a sell signal as well. 

The dollar has rallied and both it and the Euro count 5 waves.  I bought a bit of EUO short Euro to celebrate.  The dollar faces it's 90-minute M/A just above 77. 

This squares with a handy 9-day channel that is perched at today's high.

The dollar's sentiment gauge is positive over several weeks.

I posted the precious metals' sentiment gauge PM1 at 10:00 if any are interested in gold or silver.  The silver chart can count complete, but it has extended a number of times.