Morning Perspective

S&P500 futures are flat to start today's trading session, digesting the rallies from Monday and Tuesday.

The VIX , after briefly spiking over 15 continues to shrug its shoulders.  Small cap held long term support, and $SPY momentum has turned positive.  Despite the 'sell the rip' headlines, this market is still in buy the dip mode.


Support remains strong.  Pull backs still draw buying interest and the path of least resistance remains to the upside.... at least for the S&P500.

Gold has met resistance and could be looking at a short term pull back.

and finally investors have seen through $LULU earnings report and sent the stock some 20% lower this morning:

Some great minds in on the trade at for downside:


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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