Thursday, August 9, 2007

Can SPX Hold the 200MA?

The SPX closed right on the 200MA today at 1453. Tomorrow the key area to hold will be the recent lows at 1425. A break below that area my signal some panic selling. In this volatility be alert to quick swings in either direction and especially to "fake out" moves.

Use good money management in this environment.

Futures are down at the righting of this post, but anything can happen including a gap up and an extremely bullish day tomorow... or the complete opposite, so be prepared for anything including reverals intraday.

SPX Daily Chart

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