Technical Outlook:

• S&P 500 (SPX) broke the four days of up/down with an additional day to the downside yesterday. 
• As always, the bulls manage to mitigate the losses by erasing around 40% of the losses in the final hours of trading.
• Crude (/CL) is rallying hard in the pre-market, as it is already 2%.
• Despite the break in the triangle pattern that I have been outlining for the past week, I still suspect for the back-and-forth behavior of the market to continue to a certain extent. 
• The rising trend-line that started with the February lows is in play today with a potential test at 2137. 
• SPDRs S&P 500 (SPY) saw an increase in volume yesterday and was well above recent averages. 
• There is a massive hurricane out in Atlantic (I know this all too well as I am likely to be slammed by it in the next 48 hours) that could affect oil supplies and increase volatility in the oil trade. 
• CBOE Market Volatility Index (VIX) continues to struggle, no matter the sell-off, to hold onto a rally of any kind. As yesterday once again saw massive selling and squandering much of the day's gains.
• The number of stocks trading above their 40-day moving average fell by -9.5% yesterday to 41%

My Trades:

• Covered one short position yesterday. 
• Added two additional short positions yesterday. 
• May add 1-2 new swing-trades to the portfolio today. 
• Currently 10% Long / 30% Short / 60% Cash

Chart for SPX: