March 18, 2010, 7:00 am EDT — 
… The Standard & Poor’s 500 index futures down 1.10 to 1159.90, as Britain’s FTSE 100 benchmark index down 0.2 percent to 5.632.89, Germany’s DAX down 0.1 percent to 6,016.75 and France’s CAC-40 down 0.3 percent to 3,945.32. Meanwhile, Germany said that Greece’s debt problems can be addressed only by the country’s austerity program, thus suggesting an EU summit next week — Bottom line — Greece would get the blanket guarantee and enable the country to obtain third-party funding at conventional interest rates. … Japan’s Nikkei 225 stock average closed down 102.95 points, or 1 percent, to 10,744.03. South Korea’s Kospi index lost 0.5 percent. Hong Kong’s Hang Seng dropped 0.3 percent to 21,330.67 and Shanghai’s main index was off 0.1 percent. India’s market shed 0.1 percent. … The dollar was off at 89.96 yen from 90.34 yen. Oil prices fell toward $82 a barrel, paring two days of gains that were fueled by signs U.S. crude demand may be improving. Benchmark crude for April delivery was down 62 cents to $82.31. The contract rose $1.23 overnight. …
— Maintain S&P 500 index resistance to 1197.30, while changing support to 1127.40 from 1102.80. After a six-day run on upside, intra-day consolidation due, awhile near term direction remains up. Weak dollar, low interest rates and positive noise that less bad is good are conspiring to make stocks look cheap. Go with the flow and trade the the market on both sides.