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raise stop to 995.75 SPX 992/993 is a very important resistance zone.

sell ESU9 market (987) stop @ 993.75

sell NQU9 market (1581.50)

buy FAZ market (27.21)

"IBD in The Big Picture column in tomorrow's edition will make the call "market in correction". Today was the 5th distibution day in last 4 weeks for the S&P500. And it was a distribution day that was made with conviction. It could not be mistaken. It was decisive. Still the call was unusual for...

Could go as low as 920. I have been trading ETFs and bonds the past few days -- intraday movement has been quite good, especially QQQQ, QID, and FAZ. Will get back to stock futures trading tomorrow -- but hard to resist those ETFs...

Range trade (several market averages formed inside days -- lower high/higher low) following Wednesday solid rebound leaves the indices near the upper end of their two week ranges/multi-month recovery highs. While there are several economic reports that could lead to further choppy consolidation...

Approx 75% of all short positions have been stopped out for a loss of about 12%. Still holding QQQQ, XLF shorts and QID long. Will be buying FAZ, NQU9, ESU9 and SPY today and Monday.

close at market (1618)

buy esu9 market (1010.25) stop on all @ 1002.25

buy esu9 market (1012.25) stop 1002.25

stop 1633.75

sell ESU9 market (1009) stop @ 1015.75

sell NQU9 market (1620.75)

close ESU9 short at market (1002.25)

close NQU9 short market (1611)

buy stop 1627.75

sell ESU9 market (1003.25) buy stop 1011.75

sell NQU9 market (1615)

The market's momentum clearly slowed over the last several days with the S&P topping out on an intraday basis just five points above Monday's peak. While down two days in a row, the action has been choppy/consolidative with no short term negative signals generated despite the extended technical...