TECHNICALS - SPY

The markets seem to be in the middle of the most recent activity with the 10 and 200 day SMA's pointing up and the 50 day pointing lower. The 2 day RSI on the SPY is also in the middle at 43 with the VIX not offering much help either as it stands a bit below its 10 day SMA.

Like I said yesterday, for now it looks like daytrading is the way to go and I will be focusing on the internals, the financials, the techs and the pivots.

The Pivot on the SPY today is 127 with support at 126.6 and resistance at 127.5. The DIA pivot is 111.5 with resistance at 111.8 and support at 111.15. I doubt we see a wide ranging day as many participants are still away and many will be waiting for tomorrow's employment numbers. Today however does bring the oil crop so heads up in the oil patch at 10:30 eastern time.