I'm pretty tired as I write this as my two daughters began their softball seasons in earnest tonight. I sponsor and coach the team my 12 year old plays on. It makes for busy days from now until the first week of June.  Anybody out there relate??

The market sold off on fairly light volume today, although it did pick up near the close. The question tonight is whether we go lower now to correct the move up from the March lows or make one more push higher first. My good friend Mr. "S" may have the answer. 

Mr. "S" says 810.45 is the line in the sand. Break it to the downside and we go lower right here. If it holds we may get one more push higher first. I'm not going to explain why that numbers important. Just know that Mr. "S" says it is, and believe me, he knows. 

If it breaks, it doesn't mean I'm looking for new bear market lows. It really should just be a much needed pullback to shake out some bullishness before the next leg higher. 

Gold, silver and metal stocks could be in for a rough ride in here. I know it's not what a lot of you want to hear, but that's what the probabilities tell me.  The news could get better there in the summer. We'll see.

Earnings season is here and the market generally under performs during this period vs non-earnings season. That could help usher in our correction right here. I'm favoring the pullback now, followed by a renewal of the uptrend when earnings season ends. Lets see how it unfolds.