Neutral

I am taking a neutral stands on the markets here- I think we are in limp mode and I am not going to guess what will happen next. We are year to date down but remember the longer they hold this level the year over year to date will start to look positive because of last year's early sell off though we are not moving here.

Better to stay put and watch multiple time frames for any clues shorter term.

Short Term structure:S&P

Very possible that we working off the sell off BUT looks like we might try for higher.

Shorten week

With the holiday yesterday we have a shorten trading week. Usual trend is for today to be a up day when the market opens back after a 3 day weekend, so it will be kind of distorted.
Woke up this morning first day in a week without an sinus headache, hope we stays that way.

Reading

Catching up on my reading, I stumbled upon this - WOW


http://finance.yahoo.com/banking-budgeting/article/108837/dead-cat

FLIR-

FLIR very weak technical chart keep this one on your short list

Holiday today

Today is a holiday and boy do I need it. Still suffering from bad sinus headaches geez- below is a SPX chart of the recent bounce. Notice it is very weak.

4 hour chart

Four hour chart of the S&P, seem like we will make a dip again soon after the RSI works off the last selling. Still feel like crap and now we might be getting another batch of bad weather. Winter could you please give us a break