Tuesday, April 12, 2011

A Rally To SPX 1320 Resistance Very Likely Tomorrow

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
My LT Portfolio

SPX has now formed a tight down trending price channel.  A rally first to test resistance at 1320 and then the upper channel line (shown in orange) around 1325 is likely.  A close above the orange line sometime this week would be bullish and would signal much higher prices for SPX in near future.  Long term I am bullish and believe we'll see new all time highs for SPX and RUT sometime this year.


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