Off the Charts

Stocks rebounded after Tuesday's selloff. The S&P 500 closed on the highs of the day, up 0.69%. Stocks were up on a positive report of jobs growth, news that the Federal Reserve is considering a new method to keep interest rates low and progress with the Greek debt swap. Today was the easy bounce in the market, but the key going forward will be to see how much of a bounce there is. The weaker the bounce, the more likely the market will eventually break through pivot lows. A resistance level that the bears will have to defend, if they want to remain in control, is 1357 to 1359. Tomorrow marks the deadline for Greece's planned private bond swap and Friday is the jobs report number which should provide short-term direction.

SPY Source: eSignal View Chart » View in New Window »

Apple (AAPL) remains to be the highlight of this market....394 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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