Rangy markets persist - Dow claws to 11000 support

From a traders perspective the difference between the S&P 500 and the Dow, is that the Dow will give you more bang for your buck, depending which way you trade either a call or put. So when major economic events occur the fluctuations are greater on the Dow rather than the S&P 500.

The markets, in my opinion, are showing a nervous and rangy trade. The incline of the Dow has been limited to the say the least, it dropped out of it's trading range on Jan 20th 2010 and to date has desperately tried to reinstate the rally that started in November 4th 2009. The Dow finally punched through the 11,000 resistance and now is trying to establish a support above 11,000. But with average of 21.40 point gains a day (from March 7th 2010 to the April 13th 2010) the Dow isn't showing any substantial upward point swings.

Pivot points are showing a resistance (R3) at 11,145.96 with a pivot point reversal possibly at 11,000; if 11,000 PP is broken, the Dow will be under the 11,000

This will indicate that the nervous and rangy trading on the Dow will continue until a major correction sends the index down. Trading will remain muted.