Market Update September 29, 2008

For the week ahead we are expecting strong buying pressure spread across many sectors. 1246 is the first resistance level on the S&P 500 we are looking to break. Careful attention is given to the 1179 S&P 500 low. Last week we initiated a new long position on HD but CL failed to drop low enough before we could enter. New trade setups this week include Huntington Bancshares Inc (HBAN), and two addtional trades which fall under the category of triangles. If you have never traded a triangle before then this will provide you with a good visual introduction. Triangle trades include Intuitive Surgical (ISRG), and 1-800-Flowers (FLWS).

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