S&P met resistance around it 55 EMA (1100ish).
I thought that was a decent spot to let some profit roll in.
This looks like a good rally, it's clean, but it can be a clean ABC.
This is an OpEx week. So, I do what I think is prudent for me to guarantee some coinage.
If bulls are in this game, 1090 should hold, or, if lost, it should be recovered fast.
I doubt it if market has squeezed all the shorts and Hindenburg players, but who knows?
There is a Greek Festival in our town with good food and decent entertainment. We will enjoy that this evening. Depending on my degree of sobriety later this evening, I may make a more detailed post
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago