There is still a little room for more upside on Wednesday, but we're starting to see the upper end of this move.

The stock market still has some room to move before it hits the upper levels of resistance from February.

If the upside momentum does not increase into Monday morning, it will be much easier for the bears to create strong downside flushes intraday as a result of the slower than average upside in the Dow and S&Ps.

With the support levels on the daily still holding, it is looking like the market is going to take a stab again at the price resistance from back in February over the next couple of days. That level, however, will not be as easy to break.

There much support with many of the daily moving averages all converging in the indices. This is likely to slow the momentum on the correction and create a move with more overlap.

On Wednesday, the FOMC will release the minutes from its last session. Over the past year or two this release has been causing quite a stir, leading to some strong intraday moves, so Toni Hansen will refrain from holding any day trades into that time period.

Going into Tuesday, the market is more bearish as the indices appear likely to continue to correct from the zone of February's gap.

The daily resistance in the stock market is the close on February 26.

Toni Hansen is expecting the market continue to slow down over the next two day as a result of the upcoming three-day weekend. Should the market be able to break these current highs, the next strong resistance is closing price from February 26.

Toni Hansen plans to focus primarily on the intraday activity this week ahead of the extended three-day weekend. Thursday should be a particularly slow day of trading given that most of the markets are closed on Friday.