Came into week:

2 EEM (3/13 & 4/3)
2 SPY (4/17)
4 SPY (4/24, 5/23)
1 USO (6/26)
2 XLF (6/28)

-1 SMH short 6/26)
-2 FXI short hedges (6/29)

And had said ready to cut SMH and USO.

Adjustments:
7/5: +2 INDA
7/6 open: 2 UVXY hedges
7/6: -2 EEM, -4 SPY, +1 UVXY
7/7: -1 UXVY, +2 IWM, +1 QQQ, +1 SMH

So, the UVXY hedge worked great on the big down day 7/6 and was a savvy move considering everything (stocks, bonds gold) was red. Took gains on close on 1 unit since also cutting exposure, and the other early 7/7 as XIV bounced from Q2P and VIX fell below 2HP. So that was smart.

However - and yet another false breaks in 2017 which are trying my patience - again cost to go defensive! What were the reasons to reduce on 7/6? Oh, only selling from yearly levels on 4 (!) of 5 USA main indexes and VIX above a long term pivot for the first time since November 2016! Oh never mind, bulls roaring back the next day. There were several buy choices and opted for mix of tech (first touches of weekly 20MAs in months, correction maybe over; and IWM, pivot leader compared to tech.

100% long, may add further with bullish resolution this week.

2 SPY (4/17)
2 XLF (6/28)
2 INDA (7/5)
2 IWM (7/7)
1 QQQ, 1 SMH (7/7)

Long term investors can do this analysis on weekly charts using yearly, half-year and quarterly levels only. More about this soon.

Positioning information
1 position represents 10% of capital.
Limits: 15 or 150% long, -50% shorts, hedges or safe havens, 200% max total exposure.
Currency & commodity positions are not included in this system.