Pre-market update:

• Asian markets traded 0.3% higher.  
• European markets are trading 2.0% lower.
• US futures are trading 1.0% higher ahead of the market open. 
  

Economic reports due out (all times are eastern): ICSC-Goldman Store Sales (7:45), Redbook (8:55)

Technical Outlook (SPX):

• Heavy sell-off that saw the dip buyers come in and recover half of the losses before the close. 
• Most importantly, the SPX fought all day long to keep and hold the 10-day moving average which it successfully did. 
• Huge morning gap up today due to Russia pulling back on its aggression in the Ukraine. 
• You could say that over the last three days SPX has formed an Evening Star pattern which is bearish. 
• 30-minute chart of SPX is extremely, extremely choppy. 
• VIX popped 14% to 16. 
• Last 6 sell-offs have all seen rallies the following day – today looks to continue in doing the same. 
• 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 one new position to the portfolio yesterday. 
• Closed out GLW yesterday 19.01 for a 0.7% loss. 
• Remain long DOW at 47.46, PHM at 20.62, JDSU at 13.76, PH at 119.24, TPX at 50.40, GT at 26.64
• Will look to add 1-2 new additional positions today. 
• Long 60% / Cash 40% 
• Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX: