Sunday, February 24, 2013

20 D-SMA Is The Critical Support Now

RTS Long Term Current and Past Portfolios
On 2/21 MS replaced PXP and on  2/22 SWY replaced WDC

SPX sold off and successfully tested its support at its 20 D-SMA.  This week is critical as we enter a seasonably week period.  For rally to continue, SPX must close above its 20 D-SMA for the week otherwise a move to test 50 D-SMA is likely.
I didn't buy as we sold off because the sell off on Thursday signaled a possible move to 50 D-SMA.  My plan is to see how things develop on Monday.  If it looks like 20 D-SMA is going to hold, I would do 1/2 of my 3rd buy and wait to do the second 1/2 after we clear recent highs.

I no longer post on my FB page.  My plan is to update this blog every Sunday.  I also post all changes to RTS portfolios here and also on Twitter.  

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.