Market Update 9/10/2009

Dow Jones Industrial Average: +80.26 or 0.84% at 9627.48

S&P 500 Index: +10.77 or 1.04% at 1044.14

NASDAQ Composite Index: +23.63 or 1.15% at 2084.02

NYSE Internals: 2312 Advance. 726 Decline.

We broke the 1039 level, and halted right at 1044. It may take a few tries to break 1044, but I think we eventually break it and get above the 1050 area. SPY also almost made it to 105 today.

Volume once again was pathetic.

The negative divergences on all the time frames are getting more ovbious each time the SPX makes a new high. When will the madness stop? Who knows. But if this thing ever decides to reverse... it won't be pretty.

We are also at key trendline crossroads on the daily chart. If we break that, we probably make it to 1100.