The current support areas held which is a good sign for the bulls. If this area continues to hold tomorrow (and we get another move up), we would need to start looking at the next resistance around 8350 on the DOW and 880 on the S&P 500. The financials led the move up today. So much for the continued sell off that I mentioned yesterday. I'm another example of the fact that no one can consistently predict future market movements with complete accuracy. Sometimes I'm dead on...and sometimes... I'm only only kind of dead on. I'm going to predict a big sell off tomorrow so that we will continue this rally in the markets (Lately it's been doing the opposite of what I forecast). Financials did hold up nicely today. I'm going to keep a close eye on JP Morgan's earnings on Thursday (tomorrow) and Citigroup's earnings on Friday (that is unless they decide to report tomorrow). We all expected Goldman Sachs to do well, but the real test will be with JPM and C. There is a pretty heavy option bet to the upside for Citi. To help deal with any market "pain", look at MYL. It is a generic pharmaceutical company and the trend is sweet. Let's make some money to help pay for all the taxes we just paid...and more that we will likely pay in the future.
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