Short-Term Retest Day
The 822 support level on the S&P index and 903 resistance level on Gold are in play again today. The most likely result is the S&P will find support at 831 and then start a run up to the 915 level over the next week. Geithner is finding his voice finally, must have taken a public speaking course recently. That is good because a smart person who cannot talk is not a good force for the Treasury Dept.
In a sense a number of markets are also at crucial levels. The dollar is at short-term resistance and bonds are at short-term support. Bottom-line, how this day unfolds will add a lot of information to the big picture.
The EMA ETF Fund Nav was 1070 at yesterdays close.
7:49 AM CDT