Dow & S&P
Today, the indexes are going to test support again at 695 for the S&P and before any bounce back up. The indexes are too far out of their moving averages and should be moving back up to meet either the 50 SMA on the hourly charts before breaking up, above the MA.
Direction for 05/03/2009 Thursday: Gap down then up
Crude Oil (USO)
USO is poised to break up, above resistance at 27.7 and move up to 31. It should break the 27.7 resistance anytime today.
Direction for 05/03/2009 Thursday: Up
Thursday, March 5, 2009
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