Saturday, September 4, 2010

Will Bear Market Resume Next Week?

There is a good chance the bear leg that started in late April resumes next week.  SPX is up against the primary downtrend line now which happens to coincide with the 100 D-SMA at 1105.  100 D-SMA has turned SPX back down twice in the last three months.  It very likely does it again starting next week.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice.  Furthermore, the opinions expressed may change without notice.

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