Monday, March 28, 2011

Testing of Supports at SPX 50 D-SMA and 13 D-EMA Is Likely

SGS is Neutral (as of close of 3/28/2011)
RTS 20110317 Short Portfolio (Bench Mark)
My LT Portfolio

SGS went from Short to Neutral as of close of today.  All open positions in RTS 20110317 Short Portfolio will  be closed (covered) tomorrow at the open.

Download trend lines in weekly charts for all major indices held today and pushed indices back near close.  At this point, SPX very likely will sell off tomorrow and test its 50 D-SMA around 1306 and probably its 13 D-EMA around 1301.  My plan is to close all short positions in my LT and IT at those points.

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.