S&P 500 close = 1109.8

Signal = L/L

Position = L

I couldn't write my post last night, so I am writing this morning before I look at anything else.

I was testing out some intraday trading strategies yesterday, but this week is not the time to be doing any of that given that it is options expiration week and trendless. I ended up holding onto some TNA overnight since the ultrashort term trend went positive late in the day.

I am going to make this quick. Once again, the market is trying to find direction. The S&P 500 looked a bit stronger than the Russell 2000. In fact, the Russell broke through its short-term support but the S&P 500 did not follow. I always look for this synchronicity before I take a major short or major long position. At the end of the day, they both closed above their recent short-term supports.

Levels to watch for tomorrow:

1102-1103 - short-term support; break here reverses the short-term trend back to down

1111 - new level of moderate resistance

596-597 - short-term support

603 - new level of moderate resistance