The S&P 500 Index closed just above the support level of 1340.
Yesterday was an interesting tug-of-war between the bulls and bears. The $TRIN trended up all day indicating an increase in underlying selling pressure. However, the NYSE Advance - Decline Line also had a slight trend in the up direction indicating an increase of advancing issues over declining issues, though the indicator remained in negative territory all day. The net result was that the Futures were down for the day, but only slightly.
The $TICK also saw an upward trend in the afternoon indicating more upticks than down.
The ES Futures had an interesting tumble after the close of the cash market, but in overnight activity, the futures is back to the 1340 - 1344 area in the early morning hours.
The end of March is typically bearish, but the market is hanging tough at the 1340 area. April is typcially bullish for the large caps.
GDP at 0830 ET
Jobless Claims at 0830 ET
Help Wanted Index at 1000 ET (Minor Report)
Natural Gas at 1030 ET
5-Year Note Auction at 1300 ET
Charles
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