The market is showing some rotation - sectors that did the best in 2016 Q4 haven't done much, while those that underperformed especially since 11/9/2016 have been stronger. For USA mains it means QQQ up while IWM weaker; among sectors XLF lower a bit, with XBI big up; and most global stocks have jumped while DXY is down. TLT and GLD which had bloodbaths in 2016 Q4 are up too.

Although portfolio went back to fully long as of 1/3, I didn't really catch these moves. Decision to go into SPY better than IWM (wary of exactly what we saw today) but I'd be better off with some global longs or maybe EFA which gave a decent enough buy signal on 1/3 (oh well).

Have to cut the FXI short with a close above the Q1P, so rapidly above all pivots and that is just a sigh... gave back gains but still made some on the position.

Entered week 90% long with 30% short hedges for 60% net long; taking off 2 hedges made that 80% net long; buying 2 SPY longs meant net 100%, added XBI for 110%; but now without FXI short it is 120% net, ie, 12 longs and no shorts. I am a bit wary of this and may have to cut something tomorrow - whatever breaks a monthly pivot will be a candidate to reduce.

SPY and DXY (below monthly pivot first time in two months) below.