S&P 500 is heading lower, and the magic of a better than expected ISM Manufacturing PMI number didn't do the trick. The weakness is across the board in the key S&P 500 sectors, and emphasized by the credit market. Therefore, it is justified to close our currently open long position, and given the outlook growing bearish, actually open short positions at the same time.

Trading position (short-term; our opinion): short positions (100% position size) at market (that's 2847 currently) with stop-loss at 2970 and with initial downside target at 2750. Stay tuned as finetuning the open positions is likely ahead.

Thank you.

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