S&P 500 Levels & Analysis 3/9/10

The SPY was up a couple of pennies on Monday and the low volume continues to raise suspicion, but only price pays and the market seems magnetized to the January highs of 115.13.   The market remains above all the rising moving averages which means any shorts you are contemplating should be kept to intraday trades only.  Short term levels where support should be found on weakness are at 114.00 ~113.70 and 113.oo  also look for the 5 DMA to be an area of potential support on any pullback.