Monday, October 10, 2011

SPX Getting Close To The Top Of Its Trading Range

SGS is LONG (As of close of 8/24/11) 
All major indices, except for RUT, closed solidly above their 50D SMA.  I think there is a good chance that we see SPX rally early in the day tomorrow and test the upper channel line of its trading range around 1210.  My plan is to unload my LT portfolio at that point, somewhere around 1209 to 1214.

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.