Friday, March 19, 2010

The last resistance line

Yes, it seems that all is well and we're on a way to a nice V-shaped recovery.  The market has broken through some key resistances and it's on to higher ground right?  Perhaps...for now...until the bulls finally realize we're going to go through a double dip recession circa early 90s.  But that may not happen until next year so for now...

One key level remaining that was already being tested Thursday 3/18/10 and which will continue tomorrow, quadruple witching Friday, and into next week is the proprietary Institutional Index of Core Holdings.  What was a support line until end of Jan has now become the last resistance line for the market.  Stay tuned.