Today, all of the major stock indexes rallied in the morning on declining volume. This type of action is common on a Monday when trading volume is usually light. Yesterday, was the Super Bowl in the United States and many traders and investors are still recovering from that national holiday event.
Traders that follow the SPDR Dow Jones Industrial Average ETF can watch the $121.10 as short term intra-day support. There will also be more support for the popular DIA around the $120.85 level. It is important to remember that light volume markets generally favor the upside, therefore, support levels look attractive as scalp trades.
Nicholas Santiago
InTheMoneyStocks.com
