drifting into support..

As the market entered the month of April, we cited..”Note, we are another “R” cluster to low 1330's-1335, still a break is clear sailing to years high’s”. March 31.  Immediately afterwards the market had 5 consecutive closes just below 1335 (between 1132-1335) failing to breakout and close above 1335.   After so many failed attempts, it is hardly surprising the market is drifting lower last few days as traders become generally fatigued waiting on catalysts, any catalysts.  Now 12 days into April and the market hasn’t even tested 1344 high.  There is simply nobody home to play this trading game so far this month,  it’s excruciatingly painful to be part of it as scarcity/no supply of buyers see stocks drift lower because there is simply no bids.   Due to this, quite a few stocks are looking oversold as individual stocks are looking worse off than the major indices and may attract dip buyers soon.   Indices are looking like they will play catch up to stocks beginning to test the gap where all this began late March(SP1319-1322).  Just below is our benchmark level for the market since 2009 and that is the 20ma at 1310.  The 50Ma is somewhere in between gap and 20ma making this a cluster of “S” Support for the market to monitor.