Choppy Seas and some Natural Gas

SPX crashed a whopping 2 points today! The bulls looked like they were ready to take the market up to 1,000,000. When the consumer confidence numbers came out and the bears came out to play and pushed the market back below 1065.

The last two days, 1065 has been a closing resistance level, while the market has been able to get above it intra-day it could not close above it.

Also look at the lack of any trend or pattern in the market, it is a messy market chopping in the range between its 20 and 50 EMA and 1065. One of these levels will break moving the market.

With the market being so chopping, there was no reason to enter any of the stocks mentioned this morning.

So with SPX looking chopping and not giving a good edge it is important to look at other sectors.

UNG- 11.89-12.00 has been strong resistance for UNG. Now it is hitting it's down trendline, it also looks to be forming a rounded top. UNG looks like a decent safe short here with a stop above the down trendline. The indicators are looking to be rolling over.