Market Waiting

10/02/2008 9:41 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart

Positive Senate vote puts market in a waiting phase as DIA is trying to hold the lower trend line support in the 104 (Dow 10,400) area. The very high volume on 9/18 could mark a downside extreme. There is still key resistance in the 116-119 area that needs to be overcome to indicate a stronger rally.