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3/11/2010 12:39:31 AM
Our Thoughts for Thursday March 11, 2010
The markets continued to chug along yesterday; the little engine that could. Another early morning rally was offset by a mid-day correction and the choppiness ensued throughout the day but mostly to the upside as the day added more gains to the recent market rally. There is not really much to comment on in this market as it appears we still want higher to me. 1150 (January SPX highs) does seem to provide some resistance as that is where we rejected yesterday and closed right under. However, the Nasdaq and Russell have already eclipsed those highs so I am anticipating the S&P to follow suit. Let’s look for early strength again today. Hopefully we get a gap down to fade and then see what happens. But again I might look to buy on any dips. Good trading and we will talk to you soon.
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