SGS is Long (As of close of 4/30/2012)
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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.
Support at 1400 for SPX has been tested and held 3 times since SPX put in a new multi year high on August 21. I believe that support has been weakened now and is ready to break. Chances are good that we see a sell off to test where the two primary trend lines meet (uptrend and downtrend) around mid 1380's. My plan is to to buy back into 4 index ETF's (DIA, SPY, IWM and QQQ), a total of 3 buys starting at SPX 1386.
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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.
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