Pre-market update:

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

Economic reports due out (all times are eastern): Retail Sales (8:30), Import and Export Prices (8:30), Consumer Sentiment (9:55), Business Inventories (10)

Technical Outlook (SPX):

• For a third straight day, SPX tested and held the 1887 support level. 
• Now that the support level seems to be tried-and-true, I’m looking for a legitimate bounce to take us back into the 2000’s again on SPX. 
• The 20-day moving average has also provided a great deal of support over the last two days. 
• Volume remains on par with yesterday’s low level reading. 
• VIX dropped 0.5% down to 12.8 yesterday. 
• 30- minute chart suggests that the chart may be ready to put in a higher-high and potentially end the down trend it has been experiencing in recent days. 
• At the moment there is little to no fear in this market. That can always change, but no major themes in the market that can cause problems for it right now. 
• 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:

• Added one additional long position yesterday.
• Did not close out any positions yesterday. 
• Remain long CTXS at 69.96, FB at 75.65, MAS at 23.72, MSFT at 45.49, SYMC at 24.69.
• Will look to add 1-2 new long position today if the market bounces here – also willing to being opening 1-2 new short positions should the market continue to decline.
• 60% Long / 40% Cash
• Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX: