S&P 500 Levels & Analysis for 3/4/10

The market seems to be tiring a bit as it battles with the mid January lows near 113, but at the same time it holds support at 112.00 and remains above the rising 5 DMA.   If 112 fails to hold, the bigger level of importance will be found near 111.60 which is the approximate location of the rising 5 DMA as well as prior support.  If the market can push past the 113 level with conviction the next levels of potential resistance are likely to be found near 113.55, 114.00, 114.45.

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