So we're still in that box that I drew last week on the SPY... I'm expecting more consolidation in this range, and I suspect we will eventually break out of this range, probably in time for a christmas rally. I'd like to see us drop down again one more time to the 123-124 area in the SPY, bounce off support on the 100d MA again, and then push higher. If we do, I'll be looking to go long some 3x ETFs for a rally into the holiday season (actually, I'll be looking to short the inverse 3x ETFs, to take advantage of the decay in those).
Also keep an eye on the USD or the EUR/USD. The EUR/USD broke down from a bear flag on the daily chart, and on friday it retested the bear flag support line (now resistance). If this resistance holds, we could see some weakness in equities next week.
There are a lot of stocks setting up nicely on the daily charts. It's still not time to swing trade full size positions, but there might be some decent opportunities nonetheless. Here's a few that I'm watching:
ALR, AMKR, CIEN, GNW, HLIT, JDSU, NTCT, S, VHC, VMW.