Based on monthly projections, the S&P 500 will need to rise further for a healthy market to take hold from April 17th to March 17th, 2007.

The performance projections for the Dow has made considerable progress from last week; most probably due to the 108 point trend reversal gain today, which wan't consistent with historical chart patterns. The current projections for the Dow consist of a strong number of up-trends, unlike the S&P 500. The strength in the market projections seem localized to large corporations, with the S&P 500 projecting near neutral trends.

The Dow's projecting a 76.92% likelihood of an up-trend based on historical chart patterns with the S&P 500 trailing at 61.54%. The health of the Dow has literally changed for the better overnight, atleast for companies that are part of the average. Unfortunately, the S&P 500 projections aren't as hard charging as required by a strong trend projection, it will need to rise further for a healthy market this month.

As a reminder, the 2007 projections for Dow and S&P 500 consist of strong up-trends, as has been reported here, since last year.