Saturday, November 7, 2009

iShares S&P 500 weekly



Chart courtesy of StockCharts, www.stockcharts.com

Current signal: CASH

Long term trend: DOWN (50 week MA below 200 week MA)

Analysis : Stocks stabilized this week and the correction may turn out to be very mild. We will wait for the horizontal trendline around 110 to be broken before issuing a new BUY signal.

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