•Asian markets traded -0.6% lower. •European markets are trading 0.3% lower.
•US futures are trading 0.1% higher ahead of the market open.
Economic reports due out (all times are eastern): Chicago Fed National Activity Index (8:30), PMI Manufacturing Index Flash (9:45), Existing Home Sales (10)
Technical Outlook (SPX):•Sixth straight day of pushing price higher. But the moves are becoming limited in their scope. Interestingly enough, SPY saw a 0.3% decline. •It has been over two months since SPX saw a move of more than 1% (4/16/14).•Heavy volume on SPX can be contributed to Quadruple Witching/Options Expiration. •If the market is inclined to pullback here, a hold of 1925 is essential for the bulls. Otherwise it will be creating a short-term lower-low. •SPX testing the long-term upper channel on the weekly chart dating back to the highs of 4/2012 and connects all the subsequent highs. •SPX back in overbought territory. •The rising trend-line off of
•Closed FB at 63.70 for a 1.0% gain on Friday. •Closed CX at 13.30 for a 0.6% loss. on Friday. •I added one additional long position yesterday. •Remain long IR at 60.11, RVBD at 20.29, GPOR at 65.33, PACW at 44.18.•50% Long / 50% Cash•Join me each day for all my real-time trades and alerts in the