Pre-market update:

• Asian markets traded 0.2% higher.  
• European markets are trading 0.1% lower.
• US futures are trading flat ahead of the market open. 
  

Economic reports due out (all times are eastern): GDP (8:30), Chicago PMI (9:45), Consumer Sentiment (9:55), Pending Home Sales (10), Farm Prices (3)

Technical Outlook (SPX):

• SPX broke out to and close at new all-time highs. Which is huge for the index that has struggled so much in the past week to break above this resistance level. 
• Bounced perfectly off of the 10-day moving average which currently stands at 1840. 
• The best thing for the bulls at this point is to see follow through in the index and find more separation from the broken resistance level that caused them so much recent trouble. 
• Volume was average. 
• VIX Came back down to 14.04 after being elevated for much of the day. 
• SPX 30-minute chart shows an attempt at resuming the uptrend. 
• The biggest technical support level is the strength SPX found from the trend line that started off of the August ’13 lows. 
• 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:

• Added two new long positions yesterday. 
• Closed out NBL yesterday at 67.79 for a 1.0% gain. 
• Remain long GLW at 19.16, DOW at 47.46, PHM at 20.62, JDSU at 13.76, PH at 119.24. 
• Will consider 1 new positions based on market conditions.  
• Long 70% / Cash 30% 
• Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX: