I wanted to finish up our trade from yesterday. FAS never came all the way to the bottom of the envelope and we barely got a break on the DOMA 77 with those in mind I covered at 104.17 and picked up some change. As FAS crossed the DOMA 77 with conviction I went long at 104.32 on DOMA crossing and at 105.32 DMRM kicked in so I stayed long and took the long home. FAS did not make a new high. Todays high was 107.33 and yesterday's high was 107.44. We had LH and LL and closing at the upper end of the range. I conclude that is slightly bullish. SPX did not give a DMRM of 1.9% that is bullish. Internals were positive.Option expiration is next week. It has generally been bullish around that time. Bears had something this morning but things didn't pan out. I will continue to unload at the highs some that I bought at 1070 on spx. There is a EW count that looks at the decline from 107.44 to 102.05 as an (A) and the rally to 107.33 as a (B). I do not fully subscribe to that. I will go back to being a bull with a keen eye to see if we rally towards top line of the envelope or go thru the DOMA 77 and give a new DMRM signal at 103.87. Those are our stops for now. I am bullish but fearful that we are overextending our stay as guest.
MY computer is busted with all my charts and software and I am not settled-in on this even older machine. It will be a few days before things get back to normal for me and my blog.