Market opened lower and posted a very nice turnaround. However, the market's failure to advance beyond Friday's highs might spell trouble in the imminent future.
Trend is still up though and I expect the Dow to hit 8000 but a failure of the market to break above 7900 soon might lead to a more sustained decline.
Market volatility and volume have been rather low over the past two days...which typically should indicate a trend change might be around the corner.
My best guess right now is that we see another leg up and then the rally will run out of steam and give up some of the March gains. We have the unemployment for release on Friday and there is a good chance that the market will remain range bound till then.
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