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Let's discuss last weeks activities and the expectations of what is likely to come...
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SPX WEEKLY - Here we see a weekly DOJI formed and it formed at the 50 week MA.
Read MoreWe have been expecting a bit of pull back in the General Markets, and it would likely start after the SPX tagged that 200sma. I am not expecting a wash out sell off, it will be more of a ' Buy the Dip' type of pull back into the first dcl, but if you want to hold on to most of your recent gains? Then at the first signs of cracks in the ice, you would certainly tighten stops or take some profits. You want to Stay Frosty for a while.
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SPX - The SPX tagged that 200sma, dropped to the 10 sma, and bounced bit into the end of the day. We are on Day 30 and I expect this to eventually back test the 50sma.
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