Anemic/Flat S & P 500 (SPX) Today And Potential Bearish Breakaway Gap
Anemic/flat S & P 500 (SPX) today, and, there's a potential bearish breakaway gap at 1416.25 created at today's open, see http://finance.yahoo.com/q/ta?s=%5Espx&t=1d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=.
Since SPX doesn't look like it'll fill today's upside gap at 1416.25, I'm not going long RUT (Russell 2000) via the Ultra Long RUT ETF UWM yet. Also, the reliable WMT Lead Indicator is only modestly bullish right now, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=1d&l=off&z=l&q=l&p=&a=,p12,fs,w14&c=wmt,%5EGSPC.
SPX, NDX, RUT are testing the potential intermediate term cycle lows that occurred on 1-9-08, see http://finance.yahoo.com/q/ta?s=%5Espx&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=.
....... http://www.JoeFRocks.com/ .
Since SPX doesn't look like it'll fill today's upside gap at 1416.25, I'm not going long RUT (Russell 2000) via the Ultra Long RUT ETF UWM yet. Also, the reliable WMT Lead Indicator is only modestly bullish right now, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=1d&l=off&z=l&q=l&p=&a=,p12,fs,w14&c=wmt,%5EGSPC.
SPX, NDX, RUT are testing the potential intermediate term cycle lows that occurred on 1-9-08, see http://finance.yahoo.com/q/ta?s=%5Espx&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=.
....... http://www.JoeFRocks.com/ .
Labels: SPX
posted by Joe Ferrazzano at
10:47 AM
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