Showing posts with label SP500. Show all posts
Showing posts with label SP500. Show all posts
Tuesday, November 27, 2012
Another good short entry point S&P 500
Looks like the past support is turning into resistance around the 141.00 level of the SPY SPDR. Price is being rejected by the 50 EMA as well at 141. Short, target 135.
Wednesday, June 22, 2011
Dollar, S&P 500
Finally back in action after a long break. Things are not looking good right now.
I am mostly cash at the moment, but things are looking very interesting for longer term. The dollar index seems to be holding a nice triangle for the moment. I'm looking for a break of this before initiating any position. The Fed kept fund rates low at .25% again, and the FOMC meeting will be very key to watch this afternoon.
Also the S&P 500 is on a recent rally from the just above the 200 EMA. It has broken it's 2 year uptrend line. A possible test of this level around 132-135(SPY). I'm treating that as a key level to see what is to come, I'm optimistic holding a few longs. This might mean further dollar decline. Hence mostly cash. patience.
I am mostly cash at the moment, but things are looking very interesting for longer term. The dollar index seems to be holding a nice triangle for the moment. I'm looking for a break of this before initiating any position. The Fed kept fund rates low at .25% again, and the FOMC meeting will be very key to watch this afternoon.
Also the S&P 500 is on a recent rally from the just above the 200 EMA. It has broken it's 2 year uptrend line. A possible test of this level around 132-135(SPY). I'm treating that as a key level to see what is to come, I'm optimistic holding a few longs. This might mean further dollar decline. Hence mostly cash. patience.
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