Despite the powerful array of signs against it (we'll discuss them more in today's regular Stock Trading Alert), the S&P 500 futures made a run to the close proximity of our tightened stop-loss. While it hadn't been touched by a long shot, please check with your data provider (should you trade an off-exchange derivative of the index) whether your short position is still intact.

We continue to think that the odds favor heavily a move to the downside, and therefore the short position remains justified. Accounting for the overnigh spike and volatility, we decided to move the stop-loss higher, right to the March 31 intraday top area - please see the trading position section for full details.

Trading position (short-term; our opinion): short positions (100% position size) with stop-loss level at 2655and the initial downside target at 2200.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care