The Paris attacks do not seem to have had an immediate negative impact on equity markets as stocks are rallying strongly today. Because we are well into our target range for a correction and have a decent profit, I am going to cover (move out of) my short position in the broad stock market now. Yes, the markets could drop further into our lower target range, but if they continue to fall into next week we would be looking to reverse position and buy at that point anyway. A second likely scenario would be a short rally now into early next week and then a final drop into December for the cycle bottom. If that plays out, we will look to sell short again the top of that rally. Covering (unloading) my short position in the broad stock market today.