09.10.09 - Slow to Gather Steam

The S&P is making its second attempt to break R1 (say $104.20) on growing strength in the internals. At this point, I assume we break that resistance with everything aligned to the upside. However, as moderated at they are, I'm not looking for any kind of big move one way or the other even though the recent volatility crush suggests one may be brewing. We'll see.