Pre-market update:

• Asian markets traded 1.4% higher.
• European markets are trading 1.2% higher.
  
• US futures are trading 0.5% lower ahead of the market open. 
  

Economic reports due out (all times are eastern): Jobless Claims (8:30), PPI (8:30), Empire State Manufacturing Survey (8:30), Philadelphia Fed Survey (10), EIA Natural Gas Report (10:30)

Technical Outlook (SPX):

• Wild volatility today as SPX has been significantly higher in overnight trading, and now has give up those gains and trying to extend the selling to a fifth straight day. 
• You have to be careful with this market at this juncture, as there is a strong chance we see a bounce occur. 
• Big news with the swiss decoulping the franc from the euro. This is creating huge waves within the currency market. 
• Oil has seen surges of 8% higher this morning, only to give it all back. 
• To say the least, there are a lot of macro events occurring right now and the moves are playing havoc on the market’s direction. 
• Volume continues to increase over the past four days. 
• By breaking the 1/7 lows, SPX would create a lower-low and lower-high. 
• The market doesn’t care about the economy nor earnings. That is not what is driving it. The market only cares about what the Fed is doing to keep equities propped up. 

My Trades:

• Covered IBM yesterday at 156.05 for a 0.4% gain. 
• Covered ADI yesterday at 53.41 for a 2.1% gain. 
• Covered UA yesterday at 65.69 for a 0.7% gain. 
• Covered MA yesterday at 83.36 for a 0.6% loss. 
• Did not add any new positions. 
• Will consider adding 1-2 new positions today. 
• 100% cash. 
• Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX: