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

Leave a Reply

Your email address will not be published. Required fields are marked *

thirteen − eleven =