Technical levels for today

Monday, March 10, 2008

Level for today.. Watch Fridays highs and lows for first indication of a trade.

High 1313 on S&P
Low 1282 on S&P

High 12094 on INDU
Low 11821 on INDU

First thing you should see is we are getting very close to January lows on the Dow (11647) This could easily be touched early this week. I would favor a gap down to this level. and fade the gap (buy) We have 246 points to go down to touch these levels. The Gap down will not happen today, so watch for a choppy trade and quick move up short term this morning resistance very strong at 1310-1313 area