Saturday, May 7, 2011

A Test Of SPX 50 D-SMA Possible Early Next Week, But Not Likely

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

 Friday was certainly disappointing for bulls, but the market internals held up pretty well.  Early next week, at worst SPX could retest the active neckline and possibly last Thursday's low around lower 1330's.  There is an excellent chance that indices rally later in the week and close substantially higher, possibly 1430 by end of May as shown below:

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.