SGS is Long (as of close of 12/1/2010)
RTS 20110103 Long Portfolio
Today, SPX, RUT and NAZ joined TRAN and closed below their 50 D-SMA with heavy volume and lousy breath. That's no joke. Additionally SPX broke solidly and heavily through its symmetric triangle price formation hence confirming a very probable drop to a price objective of 1244.
As for tomorrow, if things get ugly over night in Saudi Arabia, then a drop to lower channel line around SPX 1277 is very likely. Otherwise, there is a good chance we see a relief rally to back test SPX 50 D-SMA around 1300.
Face Book
opader@gmail.com
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.
RTS 20110103 Long Portfolio
Today, SPX, RUT and NAZ joined TRAN and closed below their 50 D-SMA with heavy volume and lousy breath. That's no joke. Additionally SPX broke solidly and heavily through its symmetric triangle price formation hence confirming a very probable drop to a price objective of 1244.
As for tomorrow, if things get ugly over night in Saudi Arabia, then a drop to lower channel line around SPX 1277 is very likely. Otherwise, there is a good chance we see a relief rally to back test SPX 50 D-SMA around 1300.
Face Book
opader@gmail.com
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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