S&P 500 is at important resistance!

On 3/Mar, STI ended up 10.59 points or 0.4% at 2,782.79 with 1.29 billion shares compared with 1.30 billion Tuesday. In the broader market, losers outnumbered gainers 279 to 174. Personally I do not like this RALLY, VOL is LOW & most stocks are actually DROPPING.

Pressure over Greece continued to ease as the government will take new austerity measures totaling 4.8 billion Euros to ensure that they can meet their deficit-cutting pledge in this year,

Lastly I would like to warn that PULLBACK may happen anytime (Watch out for tonight US market). The S & P 500 closed @ 1118 yesterday forming a SHOOTING STAR near the important resistance of 1120. (RSI @ Oversold). The rally seems to lose fuel thus avoid buying from now and focus on taking profit if the market reverses.

S & P 500 Immediate Resistance: 1120 (Hope S & P can close above this tonight)

S & P 500 Immediate Support: 1110