Tuesday, September 14, 2010  State of the Stock Market - 9/14/10
A choppy day today on Wall Street, as stocks started the day
lower, quickly bounced up, but could not get through key
resistance and pulled back into the close.   The Nasdaq was up
slightly while the S&P was down just slightly - overall a flat
day.   Volume was up slightly.   Another three or four days like
today would be absolutely perfect.   Technically, the major
indices are RIGHT at resistance and we are at a very interesting
juncture here.  Back in July, the market rose up to this level
and then moved sideways for about a week in bullish fashion.  
The rise up was different then, as the indices had two short
pullbacks as they rose, as opposed to this straight shot up
we've seen for the past week or so.   Some sideways action like
we saw back then would be the best possible outcome right now
for this market.   I don't know if we will get it, and even if
it does happen, it doesn't mean we will continue to move higher
(see early August), but