Pre-market update:

• Asian markets traded 0.3% lower. 
• European markets are trading 0.2% lower. 
• US futures are trading 0.2% higher. 
  

Economic reports due out (all times are eastern): ICSC-Goldman Store Sales (7:45), Consumer Price Index (8:30), Redbook (8:30), Treasury International Capital (9), Housing Market Index (10)

Technical Outlook (SPX):

• Huge open yesterday lost nearly all of its daily gains. It is imperative for the SPX to recapture a chunk of those today. 
• Ideally SPX needs to reclaim 1700 – if it does that, I will feel better about yesterday and progress going forward. 
• Short-term resistance at 1699-1700 that needs to be cleared. After that, its just the all-time highs that will offer the SPX any resistance. 
• Watch the 10-day moving average going forward as a nice trend-line for determining rising support in this market. 
• Saw a nice uptick in volume yesterday. 
• SPX is far and away from any near term support in the market. 1657 is the nearest level of support. 
• I am continuing to trade to the long side, and for the foreseeable future. 
• Syria is becoming less of a threat for for the markets, particularly now that is seems improbable the United States with stage an attack on the country. 
• SPX back firmly in overbought status short-term. 
• Markets don’t care about the economy nor earnings. That is not what is driving them. The markets only care about what the Fed is doing to keep equities propped up. 

My Opinions & Trades:

• Sold URS yesterday at 54.05 for a 6.7% gain. 
• Sold PKG at $58.00 for a 6.6% gain. 
• Currently 60% long / 40% cash.  
• Current Longs: SLB at 82.34, JCI at 41.66, OSK at 46.91, EXXI at 27.54, FTNT at 20.63, SPWR at 23.51. 
  
• Will look to add 1-2 additional positions to the portfolio today. 
• Must wait until after the first hour of trading to gauge the strength of the gap up. 
• Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX: