Pre-market update (updated 8:30am eastern):

• Europe is trading 0.4% higher.
• Asian markets traded in a wide range from -0.2% up to +0.8%.
• US futures are slightly lower ahead of the open. 

Economic reports due out (all times are eastern): Employment Situation (8:30am), Consumer Sentiment (9:55am), Consumer Credit (3pm)

Technical Outlook (SPX):

• SPX managed to put together its second straight day of gains, and making it more likely that the pullback is over. 
• 50-day moving average continues to provide some overhead resistance, but the morning strength should help to push price through that range, at least early on. 
• We’ve seen morning gap-ups this week result in near-immediate sell-offs after the open. Strong possibility that this could happen again today. 
• Strong jobs number (on the surface at least) should help to provide support to the markets today. 
• Weakness we’ve seen so far this week has resulted in more of a bull flag on the charts. 
• 8-day EMA continues to provide support for the markets in the short-term. 
• We are retesting the neckline of the triple-top on the SPX daily. Heavy resistance at this level for now. 
• We are off of overbought conditions in the short-term. 
• 30-minute chart finally has a hint of bullishness to it. 
• Ideally for the bulls, if price action can close at or above 1429, the downtrend off of the September highs would be officially done and over with, as a new higher high would be established for the first time. 
• Next level of price resistance rests at 1437. 
• Fiscal Cliff discussions continues to dominate the news. 
• SharePlanner Reversal Indicator shows a strong possibility for a Santa Rally
• SPX currently has recaptured the 10, 20, and 200-day moving averages. 
• VIX remains at 16.

My Opinions & Trades:

• Bought EW at $91.01
• Bought SIG at $54.01
• Remain long ARRY at $3.67
• I’ll be looking to add 1-2 new positions to the portfolio today. 
• Here is my real-time swing-trading portfolio and past-performance

Chart for SPX: