comments and outlook 03-09

In my weekly outlook I suggested that Mon/Tue would trade in the upper half of the range. Except for the dip into the lower half of the range Monday afternoon that has proven to be much the case.  Right now (6:30 EST) the futures are fairly flat (DOW and S&P above fair value, NAZ below fair value).  I expect today to be a transition day and then a couple of days in the lower half of the trading range (1295-1310).  Time will tell. 

I see nothing in the shorter cycles at this time to alter that outlook.  See for yourself:

GL traders.  Do your own analysis.  Don't forget your stops.