Economic reports came out this morning and they were bullish for the most part. Stocks are pulling back right now based on technical moves. The S&P 500 (NYSEARCA:SPY) put in a small double top formation on the 15 minute chart. The Nasdaq (QQQQ) has been selling off all morning. The VIX is spiking although it is still lower. The TRINs are heading into bearish territory. Be careful going long here (or short for that matter). Keep in mind that we are still holding up in our longer term consolidation patterns on the broader market indexes.