Market Review

And we're back!!! Im talking about back to previous levels of resistance which are now behaving as support. I will only pst the 30 minute charts for the NASDAQ and S&P, but suffice it to say the short term trend has gone sideways when viewed from a daily chart. I had mentioned the head and shoulders pattern yesterday that was present across all three major indexes. Well today opened with an explosion to the upside. The markets then slowly lost their initial profits until 1:30 when things dropped heavily down to support at the neckline of these different head and shoulders patterns. Now dont get me wrong, I remain neutral to slightly bullish in the markets right now just because I get the feeling like the market is trying to dig in its heels to prevent any more movement to the down side. That being said I expect tomorrow to finish even to slightly higher, though what happens in between is anybody's best guess.