I will bet that the unemployment numbers are up.

Stocks were hitting their resistance. It has been a great July.

On the fundamental side:

1. Conference Board Confidentce Index dropped to the lowest reading in 4 months of 50.4.

2.Empire Manufacturing Index of New Area activity plummeted to a 19 months low of 5.1

3. Philiadelphia Fed Manufacturing Index dropped to 11 month low of 5.1 in Jul y

4. Long term unemployment (6 months or more out of work ) is 2x as bad as the worst recession sinc 1948 and geting worse.

5. Fed are talking of quantitative easing and keeping interest rates low

6. Baltic Dry Index dropped for 36 straight days - the longest streak since 1995

7. ECRI weekly leading index falling out of bed hitting a -10.7 - worst in 14 months. Each time it hits <-10 a recession follows without fail.

8. So far this year 103 more banks had failed added to the 148 that failed last year. Banks are reporting a 7 percent decrease

Considering the above, how to stay positive. I am hedging all my long positions and increasing my shorts