A close above 1200 and high volume trading has the bulls charging again this morning. Futures are pointing to a higher open, but I need to see the S&P hold above 1200 and Ideally break above the key 1225 level (sooner rather than later) before I'm a buyer. I love the UUP here and am considering adding to my position today. I'm still 60/40 equities vs. cash and I have a small position in VXX as a hedge.
Disclosure: VXX, UUP