Indices Long Term Current and Past Portfolios
As of this writing futures are down around 1%. Chances are good that SPX gaps down and opens below its 20 and 50 D-SMA tomorrow morning. A close tomorrow below those moving averages for SPX signals a retest of its Primay Uptrend Line (PUL) around 1660. A close blew PUL would be bearish and signals a test of 200 D-SMA around 1600, possibly by the end of the week.
I am watching NDX. If BM starts to unload its high beta holdings (TSLA, NFLX, FB, AMZN ...) to take profit, we should see NDX under performing in the sell off and hence changes of a test of SPX 200 D-SMA would be good. Otherwise, selling would not go much beyond PUL and it would be a buying opportunity.
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.
In Cash as of 9/3/2013
I am watching NDX. If BM starts to unload its high beta holdings (TSLA, NFLX, FB, AMZN ...) to take profit, we should see NDX under performing in the sell off and hence changes of a test of SPX 200 D-SMA would be good. Otherwise, selling would not go much beyond PUL and it would be a buying opportunity.
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.
Posts
