Monday, February 14, 2011

Consolidation Monday

Market consolidated inside a very narrow range on Monday following a breakout day on Friday.  Tuesday would either be more consolidation or another trending up day as short-covering continues, and the bulls continues to prevail.

I will use 2384 as key Line-in-the-Sand on Tuesday. 
Above 2384, implies a potential trending-up day.
Below 2384 implies more choppy consolidation day.