Going into September and the last "unofficial" week of summer before Labor day the SPX is pretty much right where it started a week ago. The markets have been hanging in here near the 1027 area with support down at 1014. Below that we have solid support at 987 and until these areas are broken then I see no reason to be a bear on this market.We should see some light volume quiet trading this week ahead of the 3 day weekend. In this case the market can really do anything it wants until the volume comes back next week. I still think any dip is a buy as long as there are bears out there with pessimism. And there are plenty. The popular view out there lately is that a correction is due. Until this becomes the "unpopular" view; then it will not happen. Period.
The Watchlist:
Longs>>> SOL, USB, ATI, NFLX, KMX, FCX, WLL, PWRD
Shorts>>> AMGN, MTZ
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