Analysis:
Friday's Analysis predicted that "the market will march higher." Today the market started off strong but pared the gains as concerns about the impact of home foreclosure irregularities on banks weighed the overall market, but the market still managed to top the recent resistance of 1,182-1,185. Looking ahead to tomorrow, the market will build on today's strong action that refused to dip below Friday's high. The Case-Shiller Housing Price Index will rise only marginally, and Consumer Confidence will also rise above 50, albeit still at a depressed level. Texas Instrument's upbeat earnings should provide support to technology stocks, and US Steels' earnings will contribute to a positive sentiment to materials stocks.
Strategy:
Hold long at 1,160
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