Technical Analysis:

• Big day for S&P 500 (SPX) as price broke out of its 3-day doji-range and pushed to the upside. 
• SPDRs S&P 500 (SPY) saw its volume drop for a fourth consecutive day and fall below recent averages. 
• The 5-day moving average continues to hold strong for SPY as it has tested and bounced each time it has been tested the last three days. 
• Another similar push higher to what was seen yesterday will push SPX to new all-time highs. 
• Nasdaq (QQQ) stocks showed signs of recovery yesterday. As money flowed out of defense and into big-tech. 
• The bounce in SPX and all the other indices minus the Nasdaq, are showing similar charting patterns to the Brexit bounce. I expect that trend to follow, with a second leg up and consolidation there after. 
• CBOE Market Volatility Index (VIX) testing the rising trend-line form the August lows. – This area has held perfectly throughout the duration and could lead to another sell-off in equities. 
• United States Oil Fund (USO) is sporting a bullish island reversal yesterday.
• SPX broke out of a triangle to the upside on the 30 minute chart yesterday. 
• Following seven straight down days on the Dow Jones Industrial (DJIA), it has now managed to rally 7 straight days. A rare phenomenon. 
• Poor breadth continues to dominate this market over the last five trading sessions, with yesterday being the first day that the advancers definitively outpaced the decliners. 

My Trades:

• Closed out SPXU yesterday flat. 
• Added three new positions to the portfolio yesterday. 
• Will look to add 1-2 new swing-trades to the portfolio today. 
• Currently 30% Long / 10% Short / 60% Cash

Chart for SPX: