Pre-market update:

• Asian markets traded 0.3% higher.
• European markets are trading 0.7% lower.
  
• US futures are trading 0.4% lower ahead of the market open. 
  

Economic reports due out (all times are eastern): Jobless Claims (8:30), Quarterly Services Survey (10), EIA Natural Gas Report (10:30), Treasury Budget (2)

Technical Outlook (SPX):

• SPX tested support at 1887 yet again yesterday and held that price level into the close with a subsequent bounce. 
• Today’s open looks to be the same price level again. The key will be whether the dip buyers come in to support the market. 
• Dips in any direction recently has not been indicative of the ultimate direction for the market on that particular day. I’ve seen most of the gaps get filled intraday. 
• SPX sporting a slight downtrend of consecutive lower-highs and lower-lows. 
• Volume was weak yesterday. 
• VIX dropped 4.59% down to 12.88 yesterday. 
• 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..
• 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.. 
• 50% Long / 50% Cash
• Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX: