Pre-market update:

• Asian markets traded 0.5% higher. 
• European markets are trading 0.4% higher. 
• US futures are trading 0.3% higher ahead of the market open. 
  

Economic reports due out (all times are eastern): Leading Indicators (10)

Technical Outlook (SPX):

• Another strong rally for the SPX making it 87 points higher in the last seven trading sessions and to all-time highs. 
• The upperside of the bearish wedge will be tested at the open today which will be at 1737. Bulls need to break this level in order to avoid a pullback. 
• Another heavy sell-off in the VIX yesterday brining it back down to 13.48.
• Despite being overbought, the SPX and markets in general have no problem trading for extended periods of time under this condition. 
• I expect the market to rally hard much in a similar fashion to what we saw off of the August lows and June lows. 
• Very little in the way of head-winds for the market as Syria has left the spot-light, shut-downs, debt-ceiling are over with for now, and the most dovish Fed chairman poised to take the helm. 
• Volume was well above average yesterday. 
• Bulls need to continue to hold the rising trend-line off fo the November 2012 lows which currently rests at 1695. 
• 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 yesterday. 
• Willl tighten the stop-loss on all existing positions, and particlarly those with heavy profits. 
• I am primarily focused on trading to the long side going forward. 
• Currently 80% long / 20% cash.  
• Current Longs: GNW 12.82, ACAS at 13.67, LYV at 18.80, CMI at 133.25, NWL at 27.84, FCX at 33.80, STNG at 10.16.
• Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX: