Brief Update

With a big report in the morning, all of this may be rendered useless by the open so I'll keep it brief. The S&P futures were finally able to push above the 75% line today. On a well received jobs number tomorrow morning, a pop to the upper trendline may be a good spot to take a little off on the long side and perhaps add a few shorts...

The S&P cash index continues to remain above all short term moving averages. This morning's early weakness wasn't quite enough to test the 5 day moving average and the charge higher continues...

The DOW managed to pop to new highs late in the session and also remains above all short term moving averages after recovering from early morning weakness. Remember, the sell signal only comes when the 5 dma rolls back lower with prices...


Remarkably, even the Nasdaq recovered all short term moving averages by the close, despite again being the laggard of the session...

One thing that may be worth keeping an eye on is this developing bull flag on the dollar...

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Now, I'm off to watch Texas upset Alabama... Go Longhorns!