Pre-market update:

• Asian markets traded 1.0% higher. 
• European markets are trading 1.1% higher.  
  
• US futures are trading 0.6% higher ahead of the bell. 
  

Economic reports due out (all times are eastern): ICSC-Goldman Store Sales (7:45), Redbook (8:55), JOLTS (10)

Technical Outlook (SPX):

• Huge rally yesterday to push the market firmly higher and officially destroying the downtrend that begun off of the 8/2 highs. 
• By clearing the 1670 level, if officially put in a higher-high by clearing the 1670 level. 
• Also cleared the 50-day moving average, which has been carrying much more significance these days. 
• Volume has steadily fallen over the last six days but overall looks much stronger than the readings we were getting over the summer. 
• Nearing short-term overbought which is where the best of rallies tend to take place. 
• I’ll likely be covering the short positions in the portfolio today and look to add additional long exposure. 
• President speaks tonight on Syria prime time. With the Russian wild card, it’ll be interesting to see whether the president continues to push for action in Syria. 
• 1645 represents rising support of the trend-line off of the November 2012 lows – hold it at all costs. 
• Markets don’t care about the economy nor earnings. That is not what is driving them. The markets only care about what the Fed is doing to keep equities propped up. 

My Opinions & Trades:

• Added two new positions to the portfolio yesterday – both long positions. 
• Currently 30% long / 20% Short / 50% cash.  
• Current Longs: SLB at 82.34.
  
• Current Shorts: MON at 101.47, ANGI at 20.88.
• Will look to add 1-2 additional positions to the portfolio today. 
• Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX: