Wednesday, October 28, 2009

SPX Closed Below its 50 D-SMA

S&P 500 closed slightly below its 50 Day Simple Moving Average (D-SMA) today.   Market will probably make a sharp move tomorrow and / or Friday.  The direction of the move is going to depend on how good or bad GDP and Unemployment numbers are.

SGS is long so my plan is to ride this out.  I think the numbers aren't going to be as bad as Market fears.

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