The market ended the week showing some strength and the SP500 closed above the 1100 mark. The SP500 broke above the downward trendline and it is attempting to form a higher low/higher high pattern to reverse its trend. But until the SP500 can break above the 1131 level, I will be suspicious of any rally inside of 1040-1100. I still believe the current market environment is for short term traders, and I will continue to be cautious.
