The first attempt at a top in January ceased to be with this week's close at new highs. For the S&P there is a series of reaction lows in 2008 which kick in at 1,222 and range up to 1,260.

The Nasdaq has long since passed 2008 reaction lows and is fast approaching the first of the 2008 reaction highs.

The International Energy Agency (IEA) said today that China’s use of oil increased by 28 percent in January when compared to January 2009. The IEA said that it expects demand for oil to drop by 0.3 percent in developed nations, but emerging economies would more than make-up that shortfall.

Overall, the IEA predicted that total global demand will increase 1.8 percent this year to 86.6 million barrels a day. The IEA also noted that half of the world demand would come from Asia.

Source: BBC News

Working gas in storage was 1,626 Bcf as of Friday, March 5, 2010, according to EIA estimates. This represents a net decline of 111 Bcf from the previous week. Stocks were 71 Bcf less than last year at this time and 19 Bcf above the 5-year average of 1,607 Bcf.

The Economic Benefits of Sustainable Real Estate March 3, 2010 By Guest Contributor Sally Russell

The common misconception that investing in energy efficient homes is more expensive than traditional homes is being upended.

Many buyers have heard that prices for green homes are higher; therefore, requiring greater down payments and less affordable monthly mortgage payments. Similarly, some builders have shied away from green construction projects as the materials for such homes can be higher.

Small Caps and Tech continued their good form. Technicals continue to support the move higher for Small Caps (Russell 2000) with new highs for the MACD and +DI line. The Russell 2000 would have to give up 25 points (or 4%) just to test breakout support at 650.

The prior underperformance of the semiconductors was undone with today's 2% gain.