Thursday, July 14, 2011

SPX To Test 1300 Tomorrow

SGS is Short (as of close of 7/12/2011)
RTS 20110713 Short Portfolio (Bench Mark)

My Long Term Portfolio

For the third day in a row, SPX lost its early gain and closed the day substantially lower.  SPX is now trading below its 50D SMA and very likely will test 1300 support tomorrow.  A close below 1300 would make a test of 200D SMA, around 1275, very likely sometime next week.

I added more shorts today as SPX went under its 50D SMA.  I am planning to add more when SPX starts to trade below 1300, hopefully tomorrow.

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.