Thursday, May 23, 2013

A Test of 20 D-SMA's Is Very Likely For Most Indices

What happened yesterday was just aggressive profit taking. I think there is more selling coming our way and there is a good chance we test 20 D-SMA for most indices. For SPX, we could sell off to low 1630's / high 1620's. My plan is do my second buy at 1626, we might see that today or 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.