SPX Is Set To Test Its 50 Day SMA

SGS is Neutral (as of close of 11/9) and RTS is in cash (as of open of 11/10).

Dow and OEX closed right on their 50 D-SMA today.  I think we have a good chance of seeing SPX test its 50 D-SMA also, either tomorrow or on Friday.  A solid and heavy close below 50 D-SMA means a very probable visit down to 200 D-SMA (lower 1130's).  That is the bear case.  For the bull case, SPX needs to do a solid and heavy  close above 1200 either tomorrow or on Friday. That's is not very likely.

 Past RTS Portfolios

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