Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Churning

The title best describes current market movement at the volatility and uncertainty churns the markets.  Geopolitics remain of concern with the seemingly endless negatives on the EU, tensions in the Koreas, uncertain expectation on the Chinese growth, and the Middle East flare up in Israel.

Baseline economic data saw continued improvement in ISM data and Construction spending that gave the markets a boost during the day.

Put action on the SPY and Q's suggest concern, although interestingly enough SPY option activity turned positive at the end of the day, suggesting a hedge from those taking money off the table my selling shares in the SPY.

Summary:  the Bears may yet get a another wind.  Continue to watch the 105 mark in the SPY as an indicator of that Bearish wind if it's broken.  Stick with short-term stagnant to bearish trades.



Disclosure: No positions