-7900-8000 has exhibited remarkable support.  Once again, there does not appear to be strong conviction to drive the INDU below support as evidenced by decreasing volume.  We are in a trading range between 7900-8405.  We may linger briefly at this level and confirm support before once again making another attempt to breach immediate resistance at 8340-8405.  The index must close above this level and stay for a few sessions.  After breaking this level of resistance, the INDU may retest the 8400 area as support and then move up to challenge 9088.  I am bullish bias.  It is just a matter of time before the INDU breaks immediate resistance and moves up.

-This is the same story as the INDU.  The SPX could test the lows at 800 but won’t stay for long.  It will move up to challenge 877.  If the SPX closes and stays above this level for a few sessions it may then reconfirm that old resistance is new support by bouncing off 877 on its’ way up to the 918-944 area.

-The COMPQ will likely retest support at 1434 before moving back up to challenge the 1493 level.  If the index breaks through 1493 on strong volume, it will start moving up with the next target at 1666.

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