Hanging In There

I think the market has put in a good showing today. There is SPX support around 1200 and I am optimistic it will hold for now but we'll see.

For all of the worry and concern and people trying to trade around the weather and the Fed the market is only down 3% or so, down a little.

If I am wrong about 1200 holding, that will mean a breach of the 200 DMA. My plan in getting defensive will be to sell partial positions and add a little yield. I do not plan big changes right away in case I am wrong.