Reporting from the beach this week so no telling what you will get. If a major event occurs it will be covered. I will be trading, so if we have an active market, I'll be here. Morning posts should not be effected (but may be late depending upon adult beverage consumption levels the previous night).
Economic Calendar - ISM and then Pending home sales at 10.
Pivot Points - Know 'em
E-minis - Drill down from the chart below. Minis are up 3.5 at this time, but they are also off 3 from the 1180 high set Friday. If that green support line cracks I do not think it will be good for the overbought markets.
SPX daily - If the red support line goes look out. Other than S Sto everything here says reversal soon, but we all know what this market is capable of.
We have to see how the market digests the employment numbers from Friday. Don't fall for the hype about the recovery. They have just created another bubble. Be willing to ride the tide as usual. I'm expecting the pop this morning to set up a nice shortable divergence that can be traded this morning. You then have to watch the breakdown to see how/if it plays out.
My workspace this week, watching the little Shanky's play.
GL!
