Tuesday, March 15, 2011

A Retest of 50 D-SMA for SPX Is Very Likely

SGS is Neutral (as of close of 3/11/2010)
RTS In Cash

All major indices quickly recovered from their very oversold values shortly after open today.  Barring breaking news from Japan or ME overnight, major indices should continue their rally.  Odds are very good that SPX tests its 50 D-SMA and 13 D-EMA around 1305.   It's hard to say what could happen after that.  Best is to stand aside and let Market set a course for us to follow.


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.