Monday, March 7, 2011

Market Signals More Selling In Near Future

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

A close below symmetrical triangle price formation (below 1310) signals more selling for SPX in the near future.  SPX is set now to test its 50 D-SMA.  If that support fails, my analysis predicts SPX at mid 1240's by mid to late April.

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.