In Cash as of 9/3/2013Indices Long Term Current and Past Portfolios
In Cash as of 9/3/2013
For SPX, 50 D-SMA has been hit 4 times in the last 5 trading days. So many hits on consecutive days has made that support ripe for a failure, very likely tomorrow. A close below 50 D-SMA signals a test of PUL, also very likely tomorrow. A close below PUL makes a test of 200 D-SMA (around 1600) almost inevitable.
Now that both corrupt parties in DC have dug in deep, only a scary market reaction can prevent a default and Big Money is more than happy to deliver, but he first needs to take significant profit in his high beta holdings.