Tuesday, October 18, 2011

SPX Is Testing Resistance At 1230

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

Four of five major indices (DJI, RUT, SPX and DJT) are still trading below their recent highs.  NAZ is the only index that closed above its recent high (on 9/20/2011) today. 

What bulls desperately need is for all major indices to close above their recent highs with a good volume and an expanding number of new highs. IF and when that happens, I would be opening long positions as indices pull back to back test past resistance levels which should act as strong supports in a true and valid breakout.


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.