S&P 500 Morning Analysis 8/28/09

The SPY expereinced another shakeout yesterday as it dropped through 102.50 and then quickly recovered, it seemed like buyers were desperate to rush in and own stocks.  The market is nervous and with the high level of specualtion in low priced stocks it should be, but the trend remains solidly higher and until there is evidence of real selling pressure it remains innocent til proven guilty.