No "Market Wrap Up" segment last night only because my view on this market hasn't changed since the last market wrap up.

The SPY is currently trading at $138.63, I think we will consolidate into $139.00 and then proceed on making new lows. The pullback is not over.

Market Wrap Up: 4/10/2012

Great flush to the 50 daily moving average on the SPY. I'm expecting the bears to take the next couple of days off before returning to take this market down some more. For now look for consolidation for the next 3-5 days and go short again. Major levels on the SPY are $132.50 and $127.65. $127.65 is the most important level if it were to break, we could be looking at more than a correction, it could be a BEAR MARKET.

Market Wrap Up: 4/09/2012

The bears are very much in control of this market. Profits are rolling in if you've been following my calls. We could have a flush into the daily 50-MA on the SPY tomorrow, if we close at the lows of tomorrow, WATCH OUT! I will release the major levels tomorrow.

Market Wrap Up: 4/05/2012

The markets are weak. A top is most definitely in at this point. We had a very weak job report on Friday and the futures are down over 100 points. SPY is heading to its 50-day moving average. Stay tuned and profit!

Markets are up but they are weak too. I was expecting this kind of behavior, I picked up some longs but they are only 1-day plays. I'll look to dump them as we approach the closing bell because I'm expecting a buy program to hit the market at the end of the day. If the buy program comes; great, if not, I think there will be a lot of selling coming as traders will not want to hold long positions going into tomorrow's job report. I still have all of my short positions.

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Market Wrap Up: 4/04/2012

Great day for those of us that are short the market. My call for a top held perfectly. I think tomorrow will be an up day which will be perfect because it will allow us to short even more. Any bounce will be short-lived in my opinion. With that said, I don't think these markets will go back to re-test the recent highs. A 50-78.6% retrace will be the time to jump short again. If the SPY retraces back to $140.80; I would look to go short and enjoy the ride down.

Market Wrap Up: 4/03/2012

The market is behaving different these days. The market isn't advancing in a light volume environment and we are beginning to see sellers come into this market. Gold took a big hit today on the back of a stronger USD. A strong USD usually means a weaker market. My call for a top remains as it has since this market topped 5 trading days ago. I think we have a good chance at breaking the 20-MA on the daily chart tomorrow.