No Place for Bears as ISM Comes in Bullish; Covered Toll Brothers (TOL) Among Other Things

By Trader Mark
01 September 2010 @ 10:22 am EDT

ISM Manufacturing came in well, ahead of expectations by a good amount and even over July's figures - so the market is adding another leg upward.  That darn S&P 500 gap at 1067 that would not fill last week or earlier this week (frustrating me) filled today of course.  Within the pantheon of 1010,1040,1057,1070 we have passed the upper end of those technical levels on today's news.  So now we have to look at the 200 day simple moving average as the last of the resistance lines.

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