S&P 500 Day Trading March 11, 2010 Support and Resistance

Today the market opened at 1140.50, up slightly from yesterday's close at 1139.75. The gap was nearly reached in the first few minutes of trading but filled just after midday. The market steadily rose throughout the morning, reaching our high for the trading hours at 1148.00. There was a slight retracement down to 1139.25 from the mornings upward movement. But this movement down was shortlived and the s&P 500 quickly rose back and closed at 1144.75. The range for the trading day was a fairly narrow one at 8.75 points. We will need a movement about 1148 to keep this upward trend in tact but with jobless claims coming out tomorrow, the continuation seems dim. Remember to change to your June contract tomorrow!

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