SPX - 1150 - 20100309

At this point I see no reason why the S&P 500 can't make a run at it's Jan '10 high of 1150.45.  Other than mild overbought conditions there is no resistance between its current levels and the 1150 mark.  Once it hit's this area it will be difficult for it to continue to push through.  Gold looks like it may have topped and has failed to continue through over the last few days.  Keep in mind that Gold has been a leading indicator for the overall market so this may be a sneak preview of a reversal for the SPX at its Jan '10 highs.
 - Dennis Glore


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