Thursday, November 29, 2012

Rally stalling at 50 dma on SPX

Today the market rallied early but then bounced off the 50 DMA on the SPX and ended with a close below the 50 DMA.  Tomorrow should be telling as I suspect this rally is over.  Nonetheless we were stopped out of our short positions today though not very convincingly.

So tomorrow we will look to re-enter our shorts should the markets move lower.  If the SPXU hits 40.15 anytime during the trading session we will enter our short positions.

See you back here Sunday night.

AJ Coops

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