Video Stock Market Technical Analysis Review 9/26/07

After breaking below the 200 day MA yesterday, the IWM recaptured that level and it looks like that weakness may have been a short lived trap. As pointed out yesterday, the IWM and SPY both found support at the 61.8% retracement of the move after the Fed meeting as well as the location of the rising 10 day MA. The lows from Tuesday in both of those market will be important levels for the market to hold going forward for the buyers to remain in control.