Monday, January 31, 2011

A Test of SPX Primary Up Trend Line Very Likely

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

In order for Market to resume its bull run, SPX must successfully test its Primary Up Trend Line and then solidly close above the upper channel line of Down Trending Price Channel.  There is a good chance we see that happening tomorrow.  There is also the probability of close below Primary Up Trend Line which would be very bearish.  It's 50/50.

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.