Trader Comment

We are watching the 1360 area on the S&P today and tomorrow.  This is an important valuation area that could provide support for the bounce that is still possible to the 1460 level.  Also in terms of longterm technical indicators, the weekly 12-26-9 MACD is turning up at the moment on the S&P.  For this to trigger we would need one more day in this 1360 area.