Technical Outlook:

• S&P 500 (SPX) yesterday managed to bounce following yesterday's sell-off.
• SPX has a strong rising trendline that goes back to the February lows and will be tested at 2139. 
• A lot of resistance overhead for the market between 2160 and 2190 on SPX. 
• Volume on SPDRs S&P 500 (SPY) dropped off dramatically yesterday and came in well below recent averages. 
• CBOE Market Volatility Index (VIX) dropped 4.7% yesterday down to 12.99. The VIX melt continues. 
• Crude (/CL) rallied hard yesterday, rising 2.3%. Today it is looking at another strong open with a move above the August highs. 
• The number of stocks trading above their 40-day moving average popped 16% yesterday to 47.7%

My Trades:

• Did not add any new positions yesterday.
• Did not close any positions yesterday. 
• May add 1-2 new swing trades to the portfolio today. 
• Currently 10% Long / 30% Short / 60% Cash

Chart for SPX: