S&P 500 Morning Analysis 8/14/09

The buyers remain in control of this market and yesterday the SPY closed not only at the high of the session, but at a new closing high for the year.  If the high of 10203 from last week is breached the next level of focus for the market will be the October 08 high of 10553.  Any pullback from here should find support near yesterdays low 10026 and then the more important level remains 9940.