Minor Resistance

Right here is minor resistance and although I think we get throuhg it for more upside I would be taking some profits from the monster moves in DIA, FSLR and BIDU which was noted sunday. I am almost in my setup for some shorts and will soon be positioning myself more than likely after option expiration tomorrow.

Paulson and Bernanke both talking at 10:00 so be careful

Thursday's plan

The bulls seemed to have returned to the markets at least temporarily as Wednesday posted our third straight session of gains, albeit small gains. Wednesday’s day got catapulted by a decent round of earnings and a gap up at the opening bell. After a quick gap fade move, the markets rallied for the rest of the day and closed at the highs.

Now for the bad news. The recent push up still resembles bear-flag like consolidations, so I would still be prepared for a move lower shortly and a possible test of the January lows. In fact, I might look for some weakness today . A gap up would be an inviting fade opportunity or an early rally could spark an afternoon reversal move, so watch for those setups.