Approaching resistance

Posted by pickoption on March 9, 2010 , No comment

Investors showed little willingness to step back into the stock market after it advanced more than 3% last week. In addition to the light trade, action was also rather quiet and stocks spent most of the session stuck in a narrow range. Hewlett-Packard did disappoint with its downward revision of first quarter earnings. Research In Motion was a primary leader after it was upgraded. The NASDAQ index has managed to maintain a modest gain as large-cap tech issues like Cisco Systems provide support.
SPY0308
FEAR METER: The S&P 500 implied volatility remained low.

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