Monday, March 8, 2010

Monday March 8th review

Well it was a rather uneventful day today as we had some consolidation of Friday's gains. The market built value around Friday's Point of Control (bottom chart) in a very small 4pt range in the open outcry markets. Yes it was like watching paint dry!

However the only real trade of the day was to short on first touch the first resistance level I posted yesterday on the Monthly chart. That proved to be the high of the day to the tick!!

Other than that not too much to say, bull/bear line will be 1126's. I expect to see this market crack the 1200 level before summer time.