SPX

Today we say a sharp sell off with the SPX -37.21 or 4.28%. The pile driver closing  we've grown accustomed too was back in effect. We'll have to see what happens from here with an eye on the recent lows at around 830 and 780. Watch the 55d ema (817.40), to see whether that level holds.

Last week on the trend following front, I got a bunch of long signals in the various indices. I don't get a lot of signals from the "indicie" data base so I'm not ready to discount it so readily. Sure trend following systems give signals after strong runs in either direction, and are prone to whip sawing. Signals were given across the board in DIA, OEX, SPX, DJI, NYA, and RUT. Just saying that if the 55d holds, I'll be looking to establish a long position on the dip based on a TFing philosophy for a trade. Only after this plays out will we be able to determine whether the March rally was a bear market rally or start of something else. 

Trends I'm following are long Sugar and Copper. Been in these awhile. Potential new trades that I received a signal and am looking to initiate include: Long Soybeans, Soymeal, British Pound/FXB, LD, Paladium (PA - futures). Short Gold and Wheat.