Key Channel On The Markets Could Break

The SPDR S&P 500 ETF

is trading in a range that began yesterday at 10:00am ET. Since then, it has traded in a quiet channel between $108.30 and $109.00. Watch for a possible break one way or the other. If the markets confirm to the downside below the $108.30 level, the target is $107.50. If the markets break on the SPY to the upside through $109.00, the target is $109.30. The light volume is trying to keep the markets up today but the dollar PowerShares DB US Dollar Index Bullish

has soared, putting pressure on the markets. Remember, there is an inverse relationship between the dollar and the markets. For more analysis, swing trades, guidance and education, join the Research Center and start profiting. Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com