SPX 1265 Very Likely High For 2010

SGS is Long (as of close of 12/1/2010)
RTS 20101202 Long Portfolio

SPX is about to tag its upper price channel at 1265 tomorrow.  Since the start of the latest bull leg (Dec. 1), a sell off has followed in all three occurrences where SPX penetrated its 13 EMA + 2% vertical shift boundary.  Considering usual holiday reversals and how far SPX has come since its recent low (better than 7% since Nov. 30), a sell off and a move back to the lower price channel is very likely over the course of remaining 2010 trading days.

Face Book  (I post frequently on my wall during the day)

Twitter (My ST Trades are posted)

opader@gmail.com

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.