Neutral

Yesterdays close was a bullish close. I am waiting to see how the market opens and takes all of these numbers today. AIG will be a wait in the financials this morning. I will be looking to sell rallies up to the 50 day m.a. at 110550. If that gets violated, I will be working the bid up to 112075. Wait and see. Trade small. Look for high volatility with a small range. Support is 107800 and resistance is the 50 day and 112075.

Bearish

This market has the writing on the wall for another dip. The Euro is getting weaker and weaker. Along with Gold getting stronger and stronger. My charts are telling me that this market is in trouble. We came up to far and too fast. Same old story. I now believe that volatility will get some of the longs out of the market. Anytime the market gets above the 50 day m.a. and then crosses back down below it, that is very bearish. We have tried 4 times to get back above it. Failing each time. Usually this starts the bear market. Selling rallies today. Support is 108225. Below that the market is in bad shape and look for 107350. Resistance is 110350 and 110950.

Bearish

The market failed at the 50 day again. We held the support that I had at 109000 so I will not be over anxious on being short near that area. Volume was high on the break. When they rallied volume was weak. Stick with the shorts but be careful of being short near yesterdays low. Today might be an inside day. If we take out yesterdays low we should trade down to 108225. Resistance is 110500 and support is 108225.

Bearish

The markets action has still been bearish to me. Higher volume on breaks and the rallies are very uneventful. I am looking for the market to open up below the 50 day this morning and try to stay below it. If this happens, look for the market to trade down to 109000. If this does not happen, the market should trade up to 102075. This is an important test for the market. Resistance is 102075 and support is 108225.

Neutral

Friday's close was right on the 50 day m.a. I am waiting to see how they open today. If they cannot get below the 50 day in the first hour I will be turning bullish. Resistance is 112075 and support is 108225. I will have a wait and see attitude on todays open.

Neutral-Bearish

I am still bearish because yesterday we traded up to the 50 day and closed below. This morning we are lower but it is because of the .25 point hike in the Fed's Discount Rate. So I am waiting to see how we open. If we open up and go right above the 50 day (110500) I will not be bearish anymore. I will wait to see how the market closes. Friday closes are important. Plus today there is options expiration on the close. Trade small and watch for high volatility. Resistance is 110825 and support is 108625.

Bearish

The market cannot trade its 50 day moving average. Until it does I am selling rallies. This market has come back half way for the year and stalled. I believe that we will trade in the bottom half of the range and make a run at the lows of the year. Resistance is 110450 and support is 106975. Trade small and sell rallies.

Bearish

I am still bearish. This market has to trade above the 50 day 110500 before I believe in this rally. I will be selling rallies in front of the 50 day m.a. Today's close is very important. A close above is very bullish and below is still bearish. Also today is the FOMC minutes. Support is 106975 resistance is 110500.

Bearish

The market has had a nice rally off the recent lows of 104075. We have seen light volume on this up move and it seems as though it has just been some short covering. There is so much confusion on the street whether or not this bull market has come to a halt. I believe it has and we will start to trend down. When the market breaks the uptrend and then falls below the 50 day m.a. it is just no good any more. Selling rallies until they get above the 50 day (110500). Resistance is 108750 and support is 105825.

Bearish

This market is just holding off the bears for now. All that I see is selling and then some short covering. We held my resistance overnight at 107925 and now I am looking for the market to test support at 105725. If that does not hold, look for them to go after the recent low at 104075. Sell rallies on short term charts.

Bearish

The market is more skittish everyday. This high volatility and high volume is not good for the bulls. The bulls need the market to trade back up to the 50 day moving average very soon or you will start to see selling accelerate. Resistance is 107925 and support is 105600. Selling rallies until they prove me wrong.

Bearish

We cannot get above the 10 day moving average. The market increases in volume on down moves and when we rally there are sellers the whole way up. I am bearish unless they can take out the 10 day. Resistance is 107450 and support is 104600.

Slightly Bearish

The market is trying to figure out this correction. Are we done or has it just started? Look for a range trade on these recent lows. My feeling is that the correction is just starting. This recent break acted a lot like the beginning of the break in 2008. Extreme volatility with high volume. Resistance is 107175-107375 and support is 104800. Selling rallies on short term charts until they blow through some resistance.

Slightly Bearish

We did not make a new high on Friday afternoon. That tells me that the market is still weak and look to sell rallies. I have it being pretty tight in this area for now. Resistance is 107375 and support is 103800. I will be selling rallies on my short term charts until they hit my support or resistance areas.