Thursday, July 14, 2011
SPX To Test 1300 Tomorrow
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.
on 7:53:00 PM