By InTheMoneyStocks.com on February 3rd, 2010 11:58am Eastern Time
The markets continue to inch lower today coming into a little support at $109.50 on the SPDR S&P 500 ETF ( NYSE:SPY). This level is a minor support but could cause a little bounce. After that, the major level of support is at the 200 moving average at $109.10 level.
The markets are lower on a stronger dollar. With that stronger dollar comes a fade in commodies and commodity stocks. These stocks have run up 10% in the last few days on the back of a huge oil bounce. A small pullback was due.
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