Good Morning,

Technically, SPX is back on its lows - support is in the 1140 level. A break below this gives us a good look at how the key 1110 will do. Again, the risk is to the downside IF economic data worsens.

Fundamentally, let's look at retail sales on Wednesday and claims on Thursday. We have some PPI and CPI data in there, but price pressures are abating a bit and the Fed has stated that there isn't inflation, so I am thinking that inflation data doens't hold as much weight regarding equity market movement.

Good Morning,

No charts to post today - just a quick update on the fundamentals out there and a broad overview of the technicals.

Unemployment claims were just a bit outside expectations (above expectations) as usual. Not sure if this is good or bad for the equity markets (see QE 1-ongoing...) but it isn't good for your friends who are not being hired!

Good Morning,

From the sky is falling to everything is fine. We are bouncing back and forth in one big range in the broad markets, support is holding in most stocks and sectors and the dollar is all over the place. Makes for very, very astute trading and knowing when not to trade is just as important.

So money management, trade risk and realistic expectations with an emotional attatchment are key.

Rubber band action in the SPY (otherwise known as support and resistance):...

Good Morning,

I can't stress this enough. The Jobs number is HUGE! Aside from the Fed, it sends equity markets into trends for days and days and days IF the number misses expectations by a large amount.

We expected 70k and we got zero. That is a VERY bearish number. If it weren't for the "Fed in the background", we would be down another 500 points or more over the next few days.

BUT, we do have the "Fed in the background" and we are hanging in there. Check out this support line:...

Good Morning,

Data this week was neutral to weak to very, very weak (see today's jobs report). BUT, the markets are still hanging in there as the threat of some type of intervention is still out there. It is always looming and rumors rule, so trade with appropriate size, pick your levels and don't get stubbon.

Speaking of levels, I had a nice DOUBLE FALL LINE TRADE hooking up and watching the USD/equity relationship, I thought, this is it for the day. Get green and shut down as traders are fleeing for the beaches on the East Coast....