Sunday, June 10, 2012

SPX Is About To Test Its 50 D-SMA

 SGS is Long (As of close of 4/30/2012)
Last Wednesday SPX rallied and closed above the primary down trend line (shown in brown).  That was very bullish.  That rally was followed by another rally on Friday which sent SPX to close well above its 20 D-SMA.

Right now chances are excellent for the rally in SPX to continue to the next major resistance level at 50 / 100 D-SMA around mid 1350's by end of next week.  My plan to buy my third buy in my LT when a sell off to back test 20 D-SMA happens sometime early this week. I'll post on FB and Twitter.

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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.