Pre-market update (updated 7am eastern):

• Europe is trading 0.3% higher.
• Asian markets traded 0.6% higher. 
• US futures are flat ahead of the open.

Economic reports due out (all times are eastern): Personal Income and Outlays (8:30am), Chicago PMI (9:45am), Farm Prices (3pm)

Technical Outlook (SPX):

• A strong push through resistance at 1404-1410 yesterday, and does a great job at defining the direction of this market. 
• Note the support at the 8-day exponential moving average for this market. Rising support is currently at 1401. 
• SPX has finished higher seven out of the last 9 trading sessions. 
• Next level of resistance rests at 1437. 
• SPX has rendezvous with the 50-day moving average overhead. Previous underside tests, has resulted in firm resistance. 
• Volume has been very average and consistent throughout this week for the market. 
• Short-term, SPX remains oversold. 
• Fiscal Cliff discussions continues to dominate the news. 
• SharePlanner Reversal Indicator shows a strong possibility for a Santa Rally
• SPX currently has recaptured the 10, 20, and 200-day moving averages. 
• VIX dropped to 15. 

My Opinions & Trades:

• No new positions yesterday. 
• Sold DANG at $4.80 for a 4.8% gain. 
• I’ll be looking to add 1-2 new long positions to the portfolio today. 
• Here is my real-time swing-trading portfolio and past-performance

Chart for SPX: