Wide trading range (April 14, 2009)

I like the action in SPY today, basicly we are just stuck in a wide trading range of 83.89-86.66.
This area is excellent for day trading, IMHO.

This week is suppose to be a very positive week for the financials. I think the best trading strategy now is to move with the flow. If the market wants to go higher than 87.5 it is possible that we will visit 90.94 this week. On the other hand, falling below 83.72 will likely take us back to about 81.