Saturday, May 21, 2011

A Test Of SPX 50D SMA Is Likely

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

My Long Term Portfolio
My Intermediate Term  Portfolio
My Short Term Portfolio

As of close of last Friday (5/20) DJI component of SGS Market Timer went "Short", but all remaining 4 components (NAZ, DJT, RUT and SPX) are still long.   The sell off on Friday was disappointing for the bulls.  It clearly signaled that the likelihood of  the current consolidation phase continuing for a few more sessions is high.  For SPX, a test of its 50D SMA is very much in the cards, a close below its 50D SMA and possibly below its Primary Trend Line would be a definite game changer.

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.