Dow & S&P 500 market analysis
Yesterday the SPX broke all resistances. Today I believe S&P 500 will move down in the first half of the day to test support at 700 before rallying up to test resistance of the 20 day moving average. Any further upward movement will depend whether it breaks this moving average resistance.
Direction for 03/11/2009 Tuesday: Up
Crude Oil (USO)
Crude is testing its pivot support and also fibo support now at 44.7. It is poised to rally up further.
Direction for 03/11/2009 Tuesday: Up
Wednesday, March 11, 2009
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