Friday

The heavy early selling on Thursday reversed in the afternoon and by the close most of the loss was overcome.

That action turned what looked like a heavy distribution day into a mixed effort.  In some quarters it even looked positive.

Following the close the US Senate passed a budget.  The government has been run by continuing resolutions for years so a budget is a big change.  Importantly it's read by many as a sign that this Congress might actually be able to pass a tax bill after failing miserably to address the medical insurance mess.

Futures are up this morning.  Two problem children to watch are Apple and GE.

We remain at 100%.