Saturday, November 13, 2010

Probable Scenarios for Next Move of SPX

SGS is Neutral and RTS is in cash.

Market sold off this week and SPX closed just below its 13 D-EMA on Friday at 1200.   Ever since this  rally started (Sept 1), SPX has bounced sharply off its 13 D-EMA.  This time it's just sat there, just below it.  To me it means that Market is on the fence and it's hard to see what it might do.  Below a number of probable moves are shown graphically.  I think the likelihood of a bounce and a try at the new resistance line (solid thick black line just above 1220) is good.

Past RTS Portfolios

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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