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Market Update, 4-7

|Includes: SPDR Dow Jones Industrial Average ETF (DIA), SPY

      While today was not a particularly eventful day, it could be a set-up for an eventful day tomorrow. If we draw a trend line starting on 2-5 and following the market up, it has been touched 7 times. Today was the 7th. Although this may not suggest anything, volatility rose a bit today, and SPY traded down on pretty good volume. Also, volume on the past week and a half up [or since the S&P has reached 1170] has dried up. If the market moves down more than 1/2% tomorrow on more than 175 Million shares [for SPY, not the S&P index itself, because SPY is what people are actually trading, and is a better measure of sentiment], then I will consider shorting the S&P. If not, I will continue to wait for the break in this trendline.

Stay Nimble, & Happy Investing,

         Charlie



Disclosure: none