Quick market update

If any of you subscribe to Dow Theory, you will notice the divergence between the Transports and the Industrials over the last several days as being a fairly significant bearish indicator. While the Industrials have managed to reach a higher high, the Transports have not.

Furthermore, despite all of the major economic reports being fairly positive of late, the S&P has still failed to rally. The old adage comes to mind, "if the market should go up, but it doesn't, that usually means that it's going to go down!"

And on that note, I chose today to buy some puts on SPY. Good luck all!

Trading Resources

Ahead of a very telling week in the markets, I provide the following links that I have found to be very useful for trading:

• Barron's Econoday - Economic calendar dating all of the major events to occur throughout the week. Includes definitions and summaries.
• Level 2 Stock Quotes - Self explanatory. Free level 2's! Very useful for fine-tuning stops based on key support/resistance price levels.
• Sharpcharts at StockCharts.com - Best free charting platform online.
• StockTA.com - Does all the technical analysis for you!
• Guide to Swing Trading - Pretty much self explanatory.
• Santelli Trading - Awesome stock picker!