An tSionna 3.24.09

There is some profit taking this AM-understandable given the rally we've seen not only yesterday but in the last two trading weeks. Both the DJIA and the S&P 500 have crossed above their respective 50-Day moving averages in the past couple of days. The NASDAQ 100 has spent the last five days above this level. We first hit these in late December early January only to turn tail and run south in the new year's rout. No guarantees that crossing these averages will lead to a new bull market. But these are important psychological levels we are currently testing. The S&P also decisively penetrated its downward sloping trendlines yesterday.

*Long ETFs related to the NASDAQ 100, the S*P 500 and the DJIA.