Thursday, May 20, 2010
S&P 500 broke below 200d-MA
200-day Moving average of S & P 500 is situated at 1,100. At the point I'm writing this is 10:25 pm, S & P 500 is 1,077, broken down below 200 day moving average. Failure to bounce off from this level will accerate short positions. It has also made a new low now. The trend has changed - peaked out on April 16, slightly more than one month ago. The next level that I will pay attention is around 970. I don't use a lot of technical stuffs, broken down below 200-day MA is something I have to respect.