S&P 500 Morning Analysis 11/4/09

The SPY is trading at 105.20 this morning and that puts the market back above the 5DMA, if the market can hold above ~104.80 today the chances of a stronger bounce increase. Upside levels where we have the potential for resistance are found near ~105.41, 106.15 and 106.86. Short term support levels should be found near ~104.13, 103.60 and 103.15.