The SP failed at overhead support today, and is now winding withing a symmetrical triangle within the downtrend.
The news of Microsoft layoffs dampened the bubbly froth over AAPL overnight.
The market at this point is guilty until proven innocent and so we continue to ride our hedge to the much shorter side after the failure at 844.
We're not riding a pure short because the bulls keep trying to find a footing and we have not seen the failure yet at 805. We'll also look for confirmation on techs.
Gold and silver are consolidating gains as the T Bond shows continued weakness.
Google out with earnings after the bell. Keep an eye out for the GE news and outlook tomorrow morning.
