Before the Open (Dec 17)

Good morning. Happy Friday. Happy Quad Witching. On Monday the open-interest data said the market needed to be flat or slightly down this week to cause the most pain. This is exactly what has happened.
The Asian/Pacific markets close mostly up today. Europe is currently mostly down. Futures here in the States suggest a flat open for the cash market.
A top-down approach says the market is in good shape. The index charts look just fine. A bottom-up approach says the market was weakening but is now firming. I found many decent setups last night. Here’s a link to a public list at stockcharts.com with some trading ideas. Don’t vote for me because I’m going to take the list down in a couple hours anyways.
A Few Trading Ideas
Short term (next day or so) anything goes. Longer term (next month) my bias remains to the upside. I’m a little concerned with the lack of 52-week highs, and the extremely low level of the put/call ratio tells us to be careful with longs. Otherwise my bias will remain up until the market tells me to change.
Thanks it for now. There are enough charts at the link above to keep you busy.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers