Monday, October 17, 2011

Is SPX Going To Test Its 50D SMA Soon?

SGS is LONG (As of close of 8/24/11) 
RTS 200110825 Long Portfolio (Bench Mark)
RTS will sell DFS and buy AMZN in its place tomorrow at the open.

Cash indices were dragged down significantly as Big Money sold index contracts and call options ahead of OPEX this Friday.  Big Money isn't liquidating his long positions, at least not yet.

There is no point opening any position (long or short) in this market so long as SPX is sandwiched between 1230 and its 50D SMA, currently around lower 1170's.  Chances are good that we see SPX tests its 50D SMA sometime this week, even as early as 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.