an tSionna {09.27.10}

We're updating this link to a chart we posted earlier this month showing our now year long trading range in the S&P 500.  The market in a short period of time has now traded back to the high end of this range.  We'll need to now monitor this to see how investors react.  We are now over bought in all three of the time frames we measure so some period of consolidation should be expected {See here}.  On the other hand a market that breaks out from these levels could be expected to at least attempt to reach the next line of resistance which currently resides around 1170 on the S&P 500.

*Long ETFs related to the S&P 500 in client and personal accounts.