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POSITION: No Position

What a train wreck that employment number was – and, at the end of the day, when markets pin their hopes on Keynesian economic resolve, that’s what you get – disappointments versus fleeting expectations. 

  1. Immediate-term TRADE – SP500 is in no man’s land (1323 support, 1363 resistance)
  2. Intermediate-term TREND – SP500 is fine; TREND line support = 1314
  3. Long-term TAILs – 1220 support; 1377 resistance 

I was too net long going into today’s market open, so I took the changed facts and tightened up my net exposure to 11 LONGS and 9 SHORTS.


Keith R. McCullough
Chief Executive Officer

Now What? SP500 Levels, Refreshed...  - 4