Slightly Bearish

It is the end of the month. We have had a nice run up this month so look for some selling going into the close. Goldman Sachs is opening down 8 bucks this morning due to concerns of some lawsuits. This might be a lag on the market today. Also look out for news on the Greece bailout plan. That can happen at any time. I will be selling rallies in front of 121200 looking for a pullback to 119550. Above 121200 look for 121625. Trading small and selling rallies.

Slightly Bullish

This market takes all the bad news very well. This stock market should be on its ass but it is not. Earnings have been all around pretty good. The news with all the down grades from S&P on these countries has not taken us down that far. The S&P is still only 30 points from yearly highs. This morning I have 119525 as my pivot. If we stay above that we should trade up to 121200. If we can't stay above it we should trade back down to 117850. 117850 is my support area. If that area gets taken out I will be looking for 116150. This market is very volatile and overall the bulls are still in control. I will buying breaks while above 119525. Selling rallies below it.

Not Trading Until April 28

Slightly Bearish

The market has reached one of my resistance areas at 120675 and held for now. I am short small leaning on that area. If this area gets violated I have 121400 as resistance. This market is very hard to get in front of right now. There is light volume and the Bulls have had there way with it. I will be trading from the short side as long as we stay below 121400. I will be watching the volume very closely today. Along with the direction of the dollar. Right now the dollar is up and we are down. If the dollar stays strong today we should stay down on the day. Support is 118675.

Slightly Bullish

It seems like the higher we go the less volume we have. Yesterday was so anemic that I am seriously wondering where all of the traders are? It seems as though I should just be trading crude or commodities. The market wants to go higher and it does not care if volume comes in. We closed above 11000 in the Dow and we should continue on this rally. 120675 is Resistance in the S&P futures. That will be a big test to the upside. I am waiting for that test before I attempt to short this market. Support today is 118500. Trade small and buy breaks.

Slightly Bearish

The Dow has now gotten above the 11,000 mark that all of the fund managers have been waiting for. The question is what do we do now? I believe that you will see some volatility up here due to short covering and some longs taking profits. If we close above it today look for this market to extend the rally for the next couple days. Resistance in S&P is 120675 and support is 117475.

Neutral,Slightly Bearish

There was little follow through to the downside yesterday. We made a new low from the prior day and then continued higher for the rest of the day. What else is new. Volume was pretty good on the rally so I expect this market to test the highs again. I am not bullish because of the way we trade when we break. High volume with a panic feel. No one wants to be the last person to get out of their longs. Resistance is 119325 and support is 116525.

Bearish

The market is showing signs of correction coming. Volume increases on the downside and there are fewer buyers as we break. That does not mean we will not rally one more time before we start to break. If we close today below 117250 I will believe that the highs are in for awhile. Resistance is 118925 and support is 116800. I will be selling rallies as long as we stay below 117875.

Slightly Bearish

We held the perfect Bell Curve for the year at 118375. Now we have a double there as well. I will be short until they take that high out. Resistance is 118825 and support is 117225. Volatility and volume is still very low so do not look for too much to happen today.

Neutral

A perfect bell curve for the year is 118375. That should be an area that longs should take some profits. Aside from that, I see no reason for this market to stop this rally. Light volume with little or no volatility means the market continues on its trend. I am not bullish, but I need to see some sellers before I am a believer of being short. Trading small and neutral until then. Support is 116175 and resistance is 118375.