Markets Up on IBM Report

There really wasn't a sense of conviction behind the day's trade though; volume didn't excite. Interesting to take a note of Pivotal Levels and the market's recent action.

• DOW hit a low mark of 12,502 last Wed.
• NAZ 2,407
• S&P 1,379

I was looking at the Trap scenario again and, when it plays out, the more I think the market could trade a little higher than I'd previously thought, maybe:

• DOW 13,300ish
• NAZ around 2,630 or so
• S&P near 1,480

There are certainly some trades out there but to error on the cautious side is prudent indeed for the primary downtrend is intact.