NEXT RESISTANCE 1100

The next area of resistance on the S&P 500 is at the 1085 to 1100 area. IBM made a nice move today (up $2.50), but it gave most of it back in after hours trading. We'll see what happens tomorrow. If it doesn't sell off below its 10 day MA, it could provide another chance to get in. Remember what I said earlier...if it breaks above the $120 area, it could really start to move up. Although it did close above $120 today, it dropped back below it in that after hour session. AAPL made a big move today. Those that got in yesterday are up big today. If you got in this morning, you still made some money as it continued to move up about $3. If you got in yesterday, you were able to take advantage of the gap up in the morning...an almost $7 move from yesterday's close. Energy stocks continued to make good moves today. The natural gas stocks I recommended (CHK, APA, and APC) have continued to make big moves. APC was up over $5 today. APA was up over $3. RIMM was up another $1 and SOHU up another $2. If you made any of these trades, please send me a success story. I'm happy with most of these gains. I'll hold on to a few contracts in case we continue to move higher. I've taken a lot of the profits off the table. This is not a good area to get into any new trades. The VIX actually moved up a bit today. That is a divergence since the market also moved up. That 23 support seems to be holding. This could mean that a sell off could happen soon...maybe even tomorrow. Watch the DOW and S&P futures in the morning. If they are down, we might sell off a bit tomorrow. If they are up, see if we rally up to that 1100 resistance area. If we move up tomorrow, watch the VIX to see if it continues to move up...or if it breaks below that 23 support. If it breaks below 23, this uptrend could continue a little longer.