Been busy so haven't commented much on the market action. Last couple of days have been really interesting. Big reversal yesterday with DOW bouncing off the 50 day moving average. Today we broke back down below resistance below 1110 than the 200 day moving average and than the 1100 area. Tomorrow the Fed meeting decision is released. That is typically bullish. We shall see. World news again has become fairly bearish. The U.S. existing home sales number was a shocker even for me. It was bad bad bad. I have not jumped on adding to short exposure (still plenty short). Still nervous about the Euro though it has been selling some off recently. I think that correlation is going to weaken soon but I don't want to be the one betting on it. I am watching that 1185 area. Breaking that could mean this rally stage is over. I had been watching 1140. We got up to 1132 area yesterday. Close enough. So on watch for major deterioration but with the Fed meeting tomorrow I wouldn't want to short in front of it. We shall see.
Here is the full PDF of Bridgewater Associates Principles by Ray Dalio for those who are interested.
Thanks goes to John