S&P 1100

Dow 10k has busted above and we are trading higher, I expect the same with the S&P 1100. 1100 holds huge significants because of the so called "Lehman Gap" then crash of the global markets. A close above this level would be a big confidence booster for the bulls and a slap in the face for the bears. One concern that I have is that there is a lot of over head supply in the market above this level, some people are coming back to even and are giving up. That might make the profit taking start, but considering how well earnings have been, any weakness is being bought. The next area of importance is not until S&P 1200.

I did get filled on the butterfly trade I posted yesterday @ 14.00.