October 7, 2011

S&P 500 at 50 SMA

  • SPX Went near 50 SMA and started correcting.
  • A bearish candle @ 50 SMA is the combination bears have been waiting for.
  • Unable to close above 50 SMA will favor bears.
  • For bulls There is time till closing bell to make a positive close above 50 day SMA.

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