Sunday, October 13, 2013

Up ... Down ... Who Knows

In Cash as of 9/3/2013

Chances are good that SPX sells off to back test the new Primary Downtrend Line (PDL) and the Primary Uptrend Line (PUL) around 1670 early this week, possibly tomorrow.  A close below those two lines would be bearish, signalling a move to test the recent low (1650) and possibly 200 D-SMA around 1600.

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 N without notice.