As expected, the market bounced back from support heading into the weekend. The move, however, was on decreasing volume showing little professional interest.

Look for the S&P 500 to hit 1,100 and then react to the resistance. My guess is more sideways until support meets resistance.

Here’s a chart:

You also might enjoy:

• Breakouts in S&P, Dow; Not in Nasdaq
• Markets retreat to averages; Inverse head and shoulders possible
• 50MA proving to be major source of resistance
• Volume floods markets, Monday’s session very important
• Long opportunity as stocks finish strongly

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