Thursday, March 31, 2011

Technical Picture - Modest Gains

After gapping up, the markets were able to grind higher. Small caps outperformed with the $RUT taking out February highs. Limited selling pressure as we test March highs on the S&P. A retest of $132.00 and gap fill would be healthy at this juncture.

Copper is normally a leading indicator and we see continued selling again today. Could be a heads up for the broader markets.

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