Wednesday, July 13, 2011

A Test Of SPX 50D SMA Is Very Likely Tomorrow

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

My Long Term Portfolio

SPX will very likely test its 50D SMA tomorrow.  A move below 50D SMA and the primary down trend line (orange) could accelerate selling and push  SPX to test 1300.

I scaled into short positions in my long term portfolio today.  My plan to add more shorts once SPX moves below its 50D SMA, probably 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.