April 4 Market Commentary

We are approaching a potential Supply Level on all of the Major Indexes so one would expect there to be some sort of a breakdown if not a reasonable hesitation. That being said, this also has the potential to be one of those supply levels that could be blown right through. After re-establishing an up trend after last week we are still in the midst of a continuing uptrend in the Big Picture. Shorts in this area can be taken with an understanding that we are still in an uptrend. If momentum continues we should see a clear path up toward the 2378.75 level relatively soon. Onc could also look at this as a level on top of another level with the previous high of 2304.00 back in mid February