Stock Market Analysis

There will be a lot of US economic data today plus speeches & FOMC meeting minutes which will increase volatility
Trading risk increased today

Yesterday @ 6pm EST, Fed Chairman Ben Bernanke agreed with Yellen to do all they can to promote robust recovery & said that the Fed plans to start tapering only after strong evidence of restored health to the job market
S&P Futures @ 1784.65 when stock market closed
S&P Futures jumped to 1790 but still failed to stay above & dropped sharply again to 1784.45

Stock Futures show that market is mixed & slightly down earlier, S&P Futures dropped from 1790 but is rebounding @ 1782.65 & targeting 1790 again as most US economic data @ 8:30am EST were better than expected
Resistance @ 1790 is strong but might be broken above because of new economic data
It would also be quite risky to buy as it might stay above for a while & drop sharply again just like yesterday

Look to sell S&P Futures @ 1790 if it fails to break or stay above & drops
Look to buy S&P Futures @ 1790 if it stays above & continues uptrend