Monday, May 2, 2011

A Test Of SPX 13 D-EMA Very Likely This Week

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
My LT Portfolio
In my LT, I'm selling GG tomorrow and buying ARMH at the open.
My IT Portfolio
My ST Portfolio

All major indices set multiyear highs today before selling off into the close.   Selling should continue for at least another day or two.   SPX very likely will test its 13 D-EMA around 1346 and possibly tag the neck line of the recent Inverse H&S price formation around 1336.  Those two prices are excellent entry points to add to or open new long positions.

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.