Major markets are trading near resistances in premarket, Qs 29.20, SPY 88 (SPX 880). Closing above the resistances is helpful. Breaking below Qs 28.50 and SPX 850, markets will retest the 11/20 lows.
For quick rally scenario in early Jan 2009, Markets were trading in a tight range for 4-5 weeks. New year rally is helpful breaking above Qs 31, SPX 920, DOW 9000, and NAS 1600 will propel markets to Qs 35 +/-, SPX 1100 +/-, DOW 9000 +/-, and NAS 2000 +/-, respectively. Those targets are based on a strong rally at the beginning of the year going into Obama 1/20 Inauguration which is better scenario than markets rallying after the Inauguration.
Good luck
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