Tuesday, December 8, 2009

WILL WE GET A BOUNCE?

The S&P 500 has found support and rallied the last three times it has hit 1087. I would expect a little bounce here tomorrow. It might just be an intraday bounce, but see if the market starts to rally a bit at the open. If it is below 1087 near the close tomorrow, we might start to get some heavy selling that could break us out of this sideways trend we have been in over the last few weeks. I feel that we will probably continue to chop around for the next few weeks, but I am prepared if the selling starts to increase. If we rally a bit tomorrow, look at the 1099 or 1100 area as a target.

No comments:

Post a Comment