S&P 5/18/09

After bouncing around EMA20 last week, S&P made the 3% advance today. It's a bullish sign as it jumped from the strong support of the intersection met by EMA20 and the lower trend line. DJ & Naz also had the same phenomenon. So expect that the broad markets will test EMA200 to see the strength of this baby bull. The advance was probably fueled in part by short-covering & buy-back after last Friday's option expiration.