Dow & S&P 500 market analysis 03/30/2009 Monday

Dow & S&P 500 market analysis

This week, we are looking at strong resistance for the S&P at 833 and then 842. The flattish movement of the S&P indicates that the current uptrend is tapering off. However we might get a bullish Monday or Tuesday but if the S&P does not break through above 842, we will be in for a prolonged down period in the markets that might go down 600.

Direction for 03/30/2009 Monday: Up


Crude Oil (USO)

Crude and USO are trending down as expected. We might see USO move down to hit the 20 and 50 day moving average support at around 28 before reversing back up.

Direction for 03/30/2009 Monday: Downside consolidation