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.
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
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