Technical Talk: S&P 500 in critical area

 EmailPrint This Post Print This Post

As seen in the chart below, the S&P 500 Index (1,187) has been flirting with its 50-day moving average (1,177) over the past few days. The two-week consolidation holds the key to the market’s next move. “The 1,175 level is a critical area for the Index as it will either gain support here and work higher or it will break the 50-day line and the recent corrective wave of the last few weeks will continue to play out. At this point we would have a solid risk management plan in place (i.e. stops) in case the market breaks lower,” commented Kevin Lane of Fusion IQ.


A useful discussion of the key moving average levels also comes from Brian Shannon of

Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.

OverSeas Radio Network

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>




Top 100 Financial Blogs

Recent Posts

Charts & Indexes

Gold Price (US$)

Don Coxe’s Weekly Webcast

Podcast – Dow Jones

One minute - every hour - weekdays
(requires Windows Media Player)
newsflashr network
National Debt Clock

Calendar of Posts

November 2010
« Oct Dec »

Feed the Bull