Market Notes, Mar 29, 2010

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I have a short bias, however, 75% of all Mondays since Jul/09 have closed +ve. That means there are still plenty of dip buyers despite the 3 days of distribution. Avg daily range since Quad Witching OpEx day is 13.6pts. Long 1160.5 if there is an opening gap up, and short 1167 in either case.

Euro put in a double bottom at 1.328. In the absence of any news, I will be looking for range bound consolidation. Long 1.331, Short 1.347.