Boring

WOW what a boring day in the markets-

SHORTS

PRU seems like a weak acting strong here- worth a short shot.
MON looking for a short in this one after analyzing the charts.
MED forming a bear flag- looks lower.

New Week-

After doing some work last night, my work show that new highs of the year 2011 is coming up. Any pullback is buy able for now as the charts are show a bullish trend. What I personally going to be doing is accumulation at the next pullback, which I don't think it will be deep but the "talking heads" will tell you to sell and that's when i will buy.
Also Gold and Oil bugs I would 'NOT' be buying those here as I see them due for a pullback before it really trends higher.
The 30yr Bonds is also looking lower.

Books

For those who want to read about technical analysis, below is my favorite reads:

Technical Analysis of Stock Trends by Robert D. Edwards and John Magee

Projection

Seem like they want to trade @ the next projection up at 1308.25.

After today

After today's action it seem to confirm we are in a stealth bull flag on the S&P. One of the reason I have been not so readily to jump on the short side is I believe we will see higher prices but also we are above the 200EMA, which leave me on the side of being long. Now we were looking like a lower high formation could be formed but from this stealth bull flag arising I am feeling like we wont get to test the lower boundaries of the last pullback.
The market is very fluid with all the international news etc so it is prudent to play small if you do.

1255

Ok after doing some work it looks like that's where the market wants to test. At that level I will be a buyers 1/3 size as I expect it to ramp up to new highs into the time projections I have spoken about before- I will more than likely pic on the oil services like XOM and tech like Apple when we get to those level.
We will see soon enough better to take it slow here as we are barely moving.