|April 6, 2009||Open||Close||Change||Open||Close||Change|
|$SPX||839.75||835.48||-0.83%||10-year Treasury $TNX||28.87||29.39||+1.10%|
Today was a light volume day on the markets, trading near resistance, resulting in a small pullback. The U.S. dollar and Japanese yen sold off heavily early in the day as the IMF put into place its plan to sell gold. Expect gold to drop in the next while.
The upcoming earning season will determine if the current uptrend continues or puts the market back into another tailspin. This is a good time to look at credit spreads.