S&P 500 Morning Analysis 11/10/09

The SPY broke past the 108 level on the open and then continued to surge higher throughout the day, the close was just 20 cents below the closing high for the year. The intraday high of 110.31 is also coming into striking distance but this morning the market is trading slightly lower and we will look for the pivot to be the first level of potential intraday support at 109.02