Mar 302010
 

Beware the 10am Consumer Confidence report may cause some short term volatility and a key for setting direction for the day. This market is looking for any reason to continue it’s march up to 1200. However, volume is showing signs of a divergence on the daily chart, so the market may be topping at the 1172 level. Most market indicators are pointing up through yesterday and into this morning’s open. Look to short fade above the overnight high at either 1172.5 or 1176.25. If the market decides to go down, there should be a long fade opportunity around 1168 or 1166.

 Posted by at 8:49 am

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