Technical Outlook:

• Friday's price action on the S&P 500 (SPX) came back with a strong bearish engulfing candle pattern.
• The price action of the last two weeks has gone absolutely nowhere. SPX is trading in a triangle range that continues to narrow, and with Friday's price action, broke down and below the lower trend-line. 
• Volume on SPDRs S&P 500 (SPY) increased on Friday and was above recent averages.
• The rising trend-line from the February lows is setting up for a possible test. Currently it is sitting at 2143. 
• CBOE Market Volatility Index (VIX) bounced perfectly off of the rising trend line from the August lows. Despite this, the VIX can not sustain any intraday moves and instead gives much of its gains each time there is a rally on the VIX. 
• Crude (/CL) continues to march higher, much of it on continuous and unsubstantiated rumors about possible production freezes.
• Price action on SPX 30 minute chart is absolutely unintelligible over the last 2 weeks. Simply chop-city. 

My Trades:

• Did not add any positions on Friday. 
• Did not close out any positions on Friday. 
• May add 1-2 new swing-trades to the portfolio today. 
• Currently 10% Long / 40% Short / 50% Cash

Chart for SPX: