We might have finally built in Libya's influence on the markets today. The SPY appeared to continue to be headed down into nowhere's ville. But about mid-day it got some buts and built a nice foundation. We are looking at 130.46 as a good area to build around.
But toward the end of the day we hit 131.45 for a strong resistance point also. Fromthere we bounced back to end the day.
Tomorrow we will see if we continue on our downward trend or if we can bounce back yet. Oil has topeed $100 a barrel. Now we will see its' influence on the markets tomorrow.