Monday, January 10, 2011

SPX Sucessfully Tested Its 13D EMA

SGS is Long (as of close of 12/1/2010)
RTS 20110103 Long Portfolio

SPX retested its 13D EMA and also put in a higher low for the day which is bullish.  I missed that buying opportunity.  SPX very likely will break through and close above the recent minor down-trend line.  Once that occurs, there is a good chance that SPX dips down again to back test that resistance (acting as a support after breakout).  That would be another good entry point for opening more long positions.

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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

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